Certainly volume on the way up carries weight, especially if it's based on something other than momentum alone, but to me the MA50 isn't any more significant than the MA43 or the MA67. They're all arbitrary. However, if enough believers are waiting for a breach of a monthly or 20-day or a 13-day moving average, that alone can be good for an ephemeral move. I think, though, that most of the board longs who've been around for a while and are aware of the medical science undergirding the company understand that Athersys will rise or sink based on its fundamental prospects and accomplishments. My long-term bet has all along been for an impressive rise. Still, I hope that today's buyers are for the most part looking at the fundamentals. Otherwise they'll be quick to bail when the momentum takes a breather.
I've of the opinion, as are others on this board, that the Company is undervalued relative to where it should be BEFORE it makes any trial announcements: the risk/reward just seems too out of whack.
Many of us have expected a runup to results although I have no idea how much, or exactly when it will begin- but it seems reasonable that the recent conference call and the Japan news were the catalysts to start that process.
I haven't sold a share and won't sell at least until results occur.