I think the 2% drop on Tuesday proves that OSUR is still channel trading and the pattern is repeating itself...at least for now. $7.80 is still resistance until an event like EU or something can propel OSUR above $8. If the market decides to really selloff (on interest rate concerns, oil, housing, etc) then OSUR could easily drop 5% or more in a single day as it did before.
Badically, EVERYONE following OSUR knows about the pending EU approvel. Hasn't done much for the pps yet :( But there are plenty of folks who don't follow OSUR and will likely buy on "hope & optimism" when the approval news hits the street. Just remember, Q2 and Q3 revenues will still be soft and probably have little benefit from CDC or EU announcements. That means MMs have way too much time to continue their manipulation before we see a lasting upward move IMO.
That's nice and I understood your trading practices. However, things don't repeat themselves always in the same way and in addition to, stocks with catalysts aproaching "any time" not necessarily trade with general market.
I think, we're beggining gaining momentum here. Some people can gain some but miss more.
OSUR is basically channel trading from around $7.2 to peaks above $7.6, but it recently broke support at $7 so the next manipulated plunge could be lower? fyi: Smart "historical" traders are currently looking for the NASDAQ MACDD sell signal next week, so just be careful not to load up too soon.
Thankfully, the overall market rejected the China selloff this time around and it seems to have pretty much ignored the oil inventory report. Makes me wonder if the sharks are setting us up for a selloff Friday on the jobs data?
Like I've said before, I hold a pile of OSUR in a long-term investment portfolio and also trade it in a separate daytrading account. My daytrading/momentum opinions do not conflict with my overall longterm positive outlook for OSUR and hopefully I've made that clear.
I hate to disagree, but I think the UN guidance is meaningless for Orasure. UNAIDS purchases at extremely low cost for testing in the poorest countries and there is fierce competition already in that area. And even if the UN guidance weren't meaningless for Orasure (as I believe), it certainly won't translate into near-term orders for Orasure. So IMO it would be foolish to buy OSUR if the UN guidance is your catalyst for movement...shorts are quite possibly going to take OSUR back down again before EU approval.
Don't rag on me for expressing an opinion. I'm still holding OSUR myself as a long-term investment. It's stuck in a range till EU approval occurs or CDC makes a bulk purchase.