PRIME results vs CRUISE results Technical Analysis discussion
In very short, looking at Feb 4th on the data of the release of the positive results of the PRIME study, the chart pattern seems very similar to todays. Prices gap up significantly at open, continue a little higher in the morning, then plummet all the way down at close. The only difference between now and then is that the candle is still very bullish overall still up 15%. After PRIME, shares continued to plummet to new 52-week lows DESPITE GOOD NEWS... I find that mildly disturbing
Here however, the CRUISE results coupled with the approaching data for Calritrol I agree are far more important now than the PRIME were this past winter. This alone allows for a more bullish pattern compared to this past February. I also find it hard to believe that the only reason the price dropped significantly is shorts covering their #$%$ either which is mildly alarming for the outlook.
Anyone agree? What is a realist outlook until the next major catalysts of the CRUISE-2 study / FDA decision? Anyone wanna make predictions for tomorrow? Im predicting a very minimal increase.
You said, "I also find it hard to believe that the only reason the price dropped significantly is shorts covering their #$%$ ...". Shorts covering would raise the price, not lower it. I think today was about more shorting to drive the price lower.
Market makers/shorts will protect $5. no way it closes above it. $4.50 is doubtful too. look at the options dude. ALWAYS look at the options at expiration and consider it a done deal that the MMS will keep the option premiums.