Heavy drop and light volume rally is not considered bullish.
Price Drop x Volume = Momentum
IBD has be advising folks to buy based on momentum and relative strength. Now sell who?
Please put a stop loss order and don’t ride south to Florida.
Sell Now and Sleep Well.
Sentiment: Strong Sell
In fact MDCO was very crowded as all biotech and pharma stocks. Need powerful shakeout to climb
Golden Hill. Hold as holding above key level 34. Don't get panicked.
Stopped out @ $35.30 before the carnage. It is coming back nicely now though. I still will not touch it after this.
Someone got out at any price, please watch a week to see where it settles down. We will know the reason for the sharp drop.
It is good stock, I will like to own it again May correction.