SR coming down rapidly yet. I'm considering it for a quick rebound play soon. Been watching since the 1.30's, now crashing toward 1.00.
I think when it bounces, a move back toward 9 day EMA/SMA a reasonable expectation (1.40-1.80?) and would be a nice gain from here near 1.00 or lower entry (.80-.90?).
I know it has financial issues, however, BK might be an excessive conclusion to make in short term, and seems to be what is being priced in.
Could be opportunity here for a quick trade if one can catch the 'falling knife' .
Also short interest % of float is large. Certainly potential for it to pop after all this intense dropping.
This trade reminds me of what REXX did, bouncing off of lows in mid 2's around January 14. now in 3's as i had anticipated for bounce back (see my post history for my REXX call). BXe in process of developing bottom and should bounce upward for us on a good trade by next week i think. 2.30+, maybe 3's
I think bottom is near. I have been waiting and started a position @ 1.92 today & plan to add if it drops more. It is quite oversold here, and I am short term playing this for a trade to 2.30+ minimum toward 9 day average or higher. And decent chance rebounds to 3.00+, too.
SALT might bounce off of the "EMA(60)" indicator on the Gallery view chart toward low 1.00 area. It is near that indicator line now. Could be spot to play a quick short term trade bounce.
You might be right this time for a short term trade bounce. REXX is very oversold compared to most in this sector. It is significantly below its 9 @ 20 day averages (SMA/EMA). I think near 2.60 maybe possible or for lower 2's yet, but a trade higher soon toward 3.00-upper 3's possible on a bounce to re-test just the 9 day average is reasonable strategy (then sell of course). This thing should be able to make 20%, maybe 50% on next bounce from 2.60 or low 2's avg entry.
Thanks for the well informed and sensible reply. And if Jan 12 is last day for lawsuits deadline, then perhaps it is why AEZS saw some late day buy pressure today. We might be on verge of break out soon potentially.