that sure was a lot of shares picked up at the close! I wonder if further direction on RadioGel will come prior to earnings or if they will just hold it back until the conference call. It might drive the share price a bit into the CC if they refrained from any further news releases on the topic. Quarterly is not far off.
Some more perspective on my previous response on MedPlay post today regarding the .08 resistance level.
Year to date:
6 million shares at .05
3 million shares at .08
8 million shares at .09 (ouch, but what a surprise)
13.5 million shares at .05 (quite a base)
10 million shares at .07
6 million shares at .08
Accumulation at .05-.055 I believe. The .07-.08 is not a stopping point in my opinion. Now the .09+ is your seller the last few weeks and weeks to come and is the resistance in my opinion, possibly as low as .08. Those .09 and higher were the buy high sell low crowd, more commonly known as Team Ignore. Into earnings I believe the stock can rise as it has done so before on more than a couple occasions. Many want .07-08 and should be strong hands plus today's buyers of the stock. The only problem is that there will not be an improvement in earnings so unless there is a clear plan in place for adressing the FDA we will be back at this .05 level deep into the summer.
No matter to me on waiting around at .05. I am one of those strong hands with .05 stocks and accumulating here and there more .05 stock. If the stock dips daily below .05 then lucky you getting the shares as those are probably a Team Ignore open order sell and a total gift!