Will not be long before this is back where I will buy again in the 18-19 cent range. Now that the stock has tested mid 23 cents and ended the day under 25 cents, it will not be long before 20 cents is being tested and that will fall also and be back in my range. I tried to tell you people but you just don't listen. These pharma stocks are the most manipulated stocks in the market and especially the ones below $1, and even more under 30 cents. These manipulators work on a percentage basis. To the average investors, a stock that moves 7 cents is nothing. BUT, if there is enough volume and they sell at 32 cents, the stock will have fallen about 22% at 25 cents and 37% if it drops to 20 cents. If it drops down to 18 cents again, like I expect it too, that would be 56% drop. The better thing is if the stock goes back down to 18 cents again from 32 cents, these manipulators trade every 100,000 for 178,888 shares and when it goes back up to 30 cents again that will be a 66^ profit on the 178,888 shares instead of holding the 100,000 shares and watching it go up and down.
I hate to admit it, but you may be right, ontop. I don't know if it will fall that far though. If you notice the "head and shoulders" pattern that just recently broke, it topped around .32 with a neckline of about .265. Technical analysis says that this post-pattern decline should stop around .21.
Obviously, we're dealing with a highly volatile micro-cap, so you never know. With the upcoming July & August catalysts, it's hard to see this stock under .20 again... ever. And if you wait that long, you could miss out on this great entry point.
The drop from 32 cents down to 18 cents is about 42% not 56% . Dropping down to 16 cents would be a 50% drop.but a 100% gain if it goes from 16 cents back to 32 cents. Just these little numbers add up to huge gains.