I honestly though the 5.3x support level would hold, but in a "fiscal cliff" market, we have TSRX on sale IMO. Techically speaking the RSI indicates oversold at 26. MACD and stochastics show oversold levels. 52 week low is 4.76, which is not far from where we trade today and nothing has changed in the fundamentals except coming closer to getting more positive phase 3 data and more partnerships. Strongly feel that there is strong support in this range and feel we've found a bottom in this range. Look for Trius to rebound towards it's 200 day moving average at $5.44 and back towards the 50 day at 5.70. My price target is $6.50-7 ahead of phase 3 data in 2 months indicating a 30% upside to today's closing price.
hope ur right. Didn't think there was much downside given the positive results and potential so far, but in a risk adverse market I guess everyone is trimming their expectations and portfolio. Any idea of timeline btwn successful phase 3 data and FDA? With dismal earnings across the board higher potential growth stocks I thought would be more attractive.
Just luv the 1cent bid lot...NOT!