Still holding above the 50 DMA. The bigger issue is that the price has fallen below the VWAP. The VWAP is the Volume weighted average price. When the price falls below that indicator it is very bad if the stock stays there for 5 trading sessions without recovering in price back above the VWAP again.
So far, $TSRX is only one candle below the VWAP and just barely. In fact, it is slightly inflated from trading that occurred on the 3rd and 4th of this month. Which we know was Shorts as we have data indicating the short volume on those days.
So, It's a safe bet those guys have to cover soon. Most likely if the price returns above the VWAP we'll have a 4 to 6 % day gain from shorts covering and others getting back into the stock.
Actually we do but I follow my gut instinct instead. Who says I'm long SIGA? I've been sweeping DUST till the gold dust settles. Re-enter when there is no downside risk in TSRX or the market. Then I might start adding. Why lose 25% or more of your holdings when you can watch the carnage from the sideline?
Still believe in the product but don't trust this MM. Bayer cross pattern needs to be confirmed. Right now it's a head & shoulders with an axe wedge on the headache pattern.