Any ideas why 3.07 - 08 is so significant. When comparing vol. to pps looking out 6 months this pps area has had low volume. In the past 10 days volume in that area has picked up. In Jan. there were buyers there or perhaps no sellers????? Appears to be building a strong pps - vol. base here. Thoughts????
I don't have a good reason why the low $3 are so siginficant but there does seem to be short term support in this area. This isn't a concern to me and I suspect it will change in the near future. I think currently the risks are high with the new facility, 2 or 3 current trials, and cash burn rate. The new facility will come on-line but not until the summer. At that time we should hear about the upcoming CLI trial. The current trials include the Phase II for IC, Phase I for muscle injury, and possibly Phase II for Buerger's disease. Any of these trials can have complications. I tried to find information on the Buerger's disease trial, but couldn't find a scrap of news on the status. Of course we will begin the new pulmonary arterial hypertension with UTHR trial soon. Other than the last trial, all the costs are on Pluristem so their burn rate will ramp up and will really move when the CLI trial starts.
With all that I suspect we will see the stock float in the $2.70-$3.30 range until the summer. As we get news on GMP certification, CLI trail start date, positive interim trial data, possible license agreement, news on ARS study, etc. the stock will climb. Unfortunately most of these will not occur for months so investors have time to get in, but when the ball starts rolling it may go up fast.
Though charts and their technical's are great for blue chips and such, I find them less distinguishable with speculative bios. Strong news will bring heavy volume spikes with rapid PPS gains, but they typically return to levels at or around the time before any event. Being these are 5 minute stocks, I naturally follow the 5 minute charts. That said, I have been consistently witnessing the heavier volume spikes with the down ticks. This tells me that the stock is in is in distribution.
Why the support at 3.08? Because 3.11 isn't holding as it did with the last "sell off". Now, more resistance. You are right & the channel has narrowed significantly, but this could go either way as you noted before. If you look back 12-18 months ago, you will see volumes of barely 70k tops, a tight channel & a narrow range. This lasted several months. At a certain point it will level off again and the stock will become more evenly traded. I'm honestly beginning to feel 2.67 may be the mark. The current valuation doesn't give justice to much higher levels.
The catalysts are set to go off and we will hear more on the progression of the company in the near future, but until then we watch those same algorithms that brought the PPS higher, conversely bring the price back down. A shame how corrupt electronic trading has become. Please note, though I may sound negative/realistic towards the near term possibilities of the stock price, I am more optimistic with the potential of the company and the long term rewards it may bring. I wish everyone the best in their decisions.
I don't see that volume here in the past ten days. I see less vol. The problem is, that the big volume spike in November causes a loss in visibility in that volume chart. I'll have a look in googles chart which has better interaction with a mouse pointer.
So right now, I'm seeing less volume which makes me think the weak sellers are done. If you look at yesterdays disaster, there was little downside volume until the down spike at the bottom for the day. That spike was someone who had lots of shares and set a sell limit at that price to protect themselves. As soon as that price hit 3.10, BANG!! if you ignore that one data point, it certainly looks like we have support right here.
I'm going to go look at googles chart, failing that, i'll go look at the proprietary charts in IBD. They have a great chart presentation at their website.