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Sarepta Therapeutics, Inc. Message Board

  • bud_rolfs bud_rolfs Apr 25, 2013 9:33 AM Flag

    CURRENT TECHNICAL VIEW ON SRPT FOR APRIL 25TH 2013

    Here is the CURRENT PRE-MARKET SRPT DAILY CHART APRIL 25th.
    We hit the $30 PTR yesterday and it HELD, with SRPT closing at $30.19 after an intraday low of $29.53.
    That in not conclusive proof that the $30 PTR will reverse the trend but it is ENCOURAGING.
    SRPT is TECHNIALLY OVERSOLD (not just an opinion) after dropping below the "SWING LOW" of April
    16th on only 1.7 million shares versus the 6.8 million of the 16th. That is as BAD TECHNICALLY as
    going over a HIGH ON THAT MUCH LIGHTER VOLUME. Either result is ONLY TEMPORARY AND
    NOT SUSTAINABLE. If we had gone over a high on that much lighter volume; I'D HAVE TOLD YOU TO
    SELL. Since we have gone under a LOW ON THAT MUCH LIGHTER VOLUME; I AM TELLING YOU
    TO BUY. We have now dropped 5 straight days down from the $35PTR to the $30PTR; so odds on a
    counter trend BOUNCE are QUITE HIGH and going HIGHER EVERY DAY. Yesterday, we filled a
    PREVIOUS OPEN GAP FROM MARCH 4th (which as I've mentioned before often ENDS a
    DOWNTREND MOVE) and daily volume dropped off from Tuesday's 3.34 million to only 2.2 million
    yesterday, which is ALSO AN ENCOURAGING SIGN.
    BUY FOR THE SHORT TERM AND WATCH: What I am saying here is that SRPT is GOING TO
    BOUNCE so if you are any kind of TRADER: you want to PLAY FOR THIS BOUNCE AS AT LEAST A
    SHORT-TERM TRADE. ODDS ARE VERY HIGH that SRPT is going to BOUNCE BACK UP TO
    RETEST THAT LOWER TREND LINE BUT THAT IT COULD GET STALLED OUT IN THAT
    OVERHEAD RESISTANCE AREA. SO ONLY BUY IF YOU CAN TRACK THE STOCK INTRADAY
    OVER THE COMING DAYS; AS THAT WILL BE NECESSARY ON THIS TRADE. ONCE A SHORTCOVERING
    RALLY GETS STARTED: IT IS HARD TO SAY HOW HIGH SRPT CAN GO: BUT
    TECHNICALLY IF IT STALLS AT OR JUST BELOW THE $35PTR AREA...WE SELL INTO THE
    BOUNCE. IF IT CLOSES BACK OVER $35; WE HOLD ONTO IT.
    God Bless In All That You Do....Bud Rolfs

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SRPT
13.57+0.50(+3.83%)Mar 27 4:00 PMEDT