you guys dont know a lot about what your doing then. We are over sold, definately falling to the mid range of that in the next 2 weeks, and our MACD is turning down. The Technicals say we are turning down. The only stocks I have ever seen hold these conditions are those that have a brake through. Barring great news we will slump some till the next run
I doubt it will today, but within the next week it looks like it is building to do that. If you look at a five year weekly chart, it is clear where the artificial damage from Austin Marxe began. You can also see how prior to that the stock had pushed up against the $1.50 level twice and often times on the third attempt it will breakout. However, we know what Marxe did and that destroyed that pattern on the chart. What we might be experiencing now is just a continuation of what was evolving back then. I just think people could not make sense of why a company with Inovio's potential was down in the $.50 area. The answer was right in front of everyone, Marxe, however often times it is too difficult to accept what is so easy to see. Everyone thought there must be some fundamental reason. Well now that that is clearly not the case, the stock is making its way back to fair valuation. In my estimation that is between $2.00 and $3.00. Not that we are getting there tomorrow, that is just where I think it should be based on analyzing many different biotech's. All that is happening now is that the huge risk premium that was built into the stock due to some mysterious unknown is being eliminated.
What you are discussing is more of a long term fundamental analysis, which is very different from short term technical analysis. I use technical parameters and look at daily and hourly charts as well as pattern recognition. These analysis methods are probabilistic in nature and therefore even if occur 99.9% of the time may still not happen 100% of the time. They evolve every second, minute, hour, and day....................
Analysis is real time, probabilistic, subject to change, and subjective. It looked likely before, but by the time you posted, some of the positive parameters broke down. Still possible today, but less likely than before.