While many were disappointed by today's action, what had been looking negative after yesterdays close actually turned positive by today's action. While this is only opinion and conjecture, I think tomorrow may have a range of the 2.4's to the 3 or so area.
Interestingly some patterns turned positive from today's action and while rare it also looks like there will be a ride at the top of the Bollinger Bands driving the high end higher. I have seen this only a few times, but it looks probable.
Just opinion, so take this lightly.
INO will enter a trading range of 2.22 to 2.90 for the next week or two. It will consolidate and form a pennant/flag continuation pattern. The flagpole runs from 1.72-2.92. Which means by end of September or Early December we should be trading around $4.
This is true. Technicals do not apply to biostocks. You can try, but its worthless really. The best you can do is trends. And even that has its limits. With biostocks, news and rumor are king. Many of these small cap companies might not even have a product to sell. That's why Cramer and the minions out there can say, "Look, they have no revenue, they are worthless". But we all know that biostocks are all about speculation on what they can produce and benefit from in the FUTURE (talking about small caps here). Sure, company XYZ might not have any products right now, and it sells nothing. But, if said company is developing a product that will make us all ive for 200 years, I'm pretty sure that is going to be worth something.