This table is easier to read:
Friday was the first day all week with any volume, indicating buying momentum is just beginning to ramp up before the PDUFA
i put a buy recommendation out on TLON AND SNSS ON FRIDAY,looking for nice moves on both as vol,mfi,macd,stochastics show major buying and strength,both stocks also broke major avg's as well
monday is gonna be a good day imo
Trading action last week:
ate Open High Low Close Volume Chg % Chg Adj. Close
04/13/12 0.77 0.89 0.75 0.889 513,107 0.144 19.33% 0.889
04/12/12 0.74 0.788 0.72 0.745 104,950 0.005 0.68% 0.745
04/11/12 0.705 0.75 0.70 0.74 181,348 0.07 10.45% 0.74
How could you get "overbought" from that? Radically undersold is closer to the mark.
04/10/12 0.648 0.725 0.648 0.67 59,552 0.022 3.40% 0.67
04/09/12 0.68 0.68 0.63 0.648 46,804 -0.002 -0.31% 0.648
Yeah, it's kind of a ridiculous proposition. Fewer than a million shares were traded last week, nobody is selling, buyers are waiting in line, adcom was favorable, and the PDUFA is still a month out.
There's tons of upside left.
I disagree. I think there will be some profit taking resistance in the .90s, but buyers outnumbered sellers by far on Friday (in the midst of an overall market correction), with a dramatic increase in volume, including one block buy of 50K at $0.89.
I do agree that it would be a good idea to buy on Monday, and i will have my finger on the BUY trigger at 09:30 sharp. I think the stock is undersold, and momo is just starting up. I suspect, opening sells on Monday will be the best price you can get next week. IMHO.
I hope you are not hanging out with pharma_trader with your finger in your @sss, lol. The bad news is that you missed the good entry early last week. Monday may be a gap up open to establish a new support for May 13 imho. You may have missed your opportunity to buy under $1
The fact that block buys were happening on Friday @ $0.89 and a larger than normal volume, tells me this ship has set sail for now at least.