SNTA moved up eight cents from Fridays low on Mon. premarket
Yet it threw a doji star which indicates a reversal.(Bulls vs Bears)
IMO,this reversal is signaling an upward trend....not down.
I have studied and used Elliot Wave for over 10 years years and found it to be very accurate but sometimes you can lose count.
On 1/28/13 SNTA reached $11.80.....1st wave up
It has been in a down trend since.It bottomed out on 11/13/13.
The macro 1st wave up topped out on 2/24 and has been in a downtrend since.
Assuming SNTA does not break below $3.84 on 4/7/13 (I do not think it will),it is intact for a macro 3rd wave up which can last for many years and take SNTA well past $20 in a year.
Much higher over several years.
Regardless,as I mentioned in a previous post,I was looking to make money on price fluctuations but do believe this stock will surpass all expectations with patience.
I am a long term investor now....GANETESPIB
Insiders and institutional funds hold @ 85% from what I can see.
That leaves a small amount of float which will make the price run when further news is announced and shorts start covering..........Billionaires are not usually foolish in their investments.
When it will happen?I don't know but I feel certain the process has started.
SNTA only needed $5MM to insure solvency or increase R&D to facilitate news.
Makes you think,doesn't it?
IMO...if it is a negative event,they are obligated to report it.
If it is a positive event,they are foolish not to report it,but could come under SEC sanctions either way if not reported in a timely manner.The reason being for a positive event with sanctions is that somebody could benefit buying stock through insider information that is not shared with the public