Gentium S.p.A Message Board
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GENT thoughts on price movement
No end of day drop........extremely bullish for Monday...
Any correction on Tue or Wed will be fairly shallow (notice I didn't say a correction on Monday because I believe Monday will be another up day). Huge support at 4.88 area, I think that's our new bottom in this channel. My guess is we gap up a bit on Monday and then it's anyones guess how high we go. Could test todays high or could just consolidate a bit. I'm willing to bet a lot of the momentum traders sold in the last hour today, they never hold overnight, and especially through a weekend…considering that fact GENT held it's ground, found it's support at that 4.88 area and moved higher in the face of day traders taking their profits..GENT is performing flawlessly in respect to an up move…this is a textbook move higher and It's definetly not over yet. 5.88 will be hit next week at some point, and if we drive through it we'll be seeing mid 7's, however…. it is my hope we drift back to 5.88-6.00 area and consolidate there, which is my guess. These are just my thoughts on what GENT will do based on 10-11 years trading and from what I've seen before in similar stocks...
Good luck folks-
You got me out of my short in time to make a profit and now I think you saved me from shorting during consolidation. Should I buy NOW?
- 1 Reply to wilkes71
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Wait and see if 4.48 holds up, I think it will, but depending on your trading style you might want to wait for confirmation. If 4.48 is breached (closes under), then we're going lower. The longer we stay above 4.48 the more a new channel is confirmed up at this price level.
Good luck
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It is pretty much impossible to know what is going to happen with the stock price. Speculators are swarming so the trend is probably upward for a while. I think the company's science is good and they will do well but they are located in Italy and the news can dry up. If there isn't enough positive news coming along, than I expect the stock will trend downward. And with heavy speculation, volatility is assured.
What is really surprising is that the company is doing much better than the first quarter pricing would indicate (sub $2.00). With biotech the smart money sells on the news and I guess that puts me in the dumb money group. I'm betting they succeed and I'm looking for a huge move to the upside in the next three years or a buyout but with biotech, it is always a gamble.- 1 Reply to meparisi
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Thanful I put a trailing stop in when the stock was trading at 5.30ish...stopped me out at 5.18.....I'm loving how this moves.
I also had a buy order in at 4.48 but just missed it by 2 cents...Damn! Coulda sold those for a 20 cent profit in about 2 minutes...owell
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Like your thinking; I bought in late and decided to hold for now...
Congrats to those who have owned this stock for some time...
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