Usually underwriters promote a stock and then stabalize it. If it can get past 50-day ma, I would be surprised if the offering is not near 60. Especially if dollar gets weaker over the next week. And the EURO looks like it is under lots of accumulation.
Late next week and you're out of your mind if you think that its anywhere near $60. Initial indications are in the $48 to $50 range. They're selling about 20 times the daily volume and about 20% of the float. The stock will be below $50 when its done and move up from there. The underwriters are putting a bid underneath it now to keep it propped for the road show next week. I'd sell this little pop and buy back next week cheaper.