BOULDER, Colo., Nov. 9, 2012 /PRNewswire/ -- Array BioPharma Inc. (NasdaqGM: ARRY) announced today the pricing of an underwritten public offering of 18,000,000 primary shares of its common stock at a public offering price of $3.65 per share. The gross proceeds from the sale of the shares, before underwriting discounts and commissions and other offering expenses, are expected to be approximately $65.7 million. The offering is expected to close on or about November 15, 2012,
I agree with SCR, the stock will continue its downtrend. I guess nobody on this forum uses technical analysis.
Do you candlestick trade or use any tech indicators? I am seeing it in a downtrend, but it just broke the RSI trend on Friday...
I do have strong advice to purchase ARRY due to the Arry-520 drug which should be presented in December. My source works for a major research company and gave us the info on PCYC when it was at $15 and I thought he was full of #$%$ - if you take a look at the price of PCYC now it is cleat that I missed out on this opportunity.
I am still trying to decide when to purchase ARRY before December, from the technicals I use, it still is in a downtrend. I am hoping it drops lower before buying...
The RSI does not say to buy here, the RSI says oversold man. And there is no trend reversal yet, what indicators or analysis are you using. The downtrend and distribution just started....
You should have shorted the stock like I said, it will keep going down man. Look at the candlestick chart and do some technical analysis. It just broke the 200 day MA.
I will second that, the stock is in a downtrend, and idiots keep buying it. The stock is about to drop below the 200 day moving average, which is extremely bearish.
I know 100% for sure that the stock will go up after news is released on ARRY-520 during the December conference/presentations.
Using technical analysis however, I would not buy the stock right now. I would hold off until the 3-4 dollar range.
I completely agree with you, this stock will continue riding down. I am hoping to pick up more share in the 3.30-3.50 region.
Sentiment: Strong Sell
strong buy, but for sure as hell not right now. It will continue to drop for a while, I plan to buy in the $3.50 range. Planning to put $15K in at that time, but not a moment sooner. It is now in a downtrend.
The stock is going up right now because it technically has to, it is overextended and will move up and trade sideways for a few days. Don't be fooled, the stock will continue its downtrend. Give it a few more weeks until the technical analysis shows a trend reversal, and then pick up some more shares.