No support below $97.30. Will it hold? Stock not looking good on the weekly chart. Potential reversal. If it can't hold, could be a fast trip down to fill the gap around $78-$80.
When it breaks $97.30, I will add short position.
Excellent point, JOSH. Worth seeing again now that CLDN is at $2.50. :Lesson is: Don't trust Roth Capital Partners.
Celladon Shares May Have Upside to $70
March 6, 2015
Celladon (CLDN: Nasdaq) By Roth Capital Partners ($19.64, March 5, 2015)
We are initiating coverage of Celladon with a Buy rating and 12-month price target of $70.
Celladon (ticker: CLDN) is about to announce potentially pivotal trial results from a 250-patient heart-failure gene-therapy trial (CUPID 2) in April.The developer of gene therapy for heart failure could announce pivotal trial results.
$11 drop in 2 days. Anyone notice that recent upgrades were by the bookrunners likely looking to unload the share they were issued? This thing got WAY ahead of itself and should settle in the $85 - $92 range before the next leg down. Easy short.
Notice how these firms needed to get the price above $100 to dump their stock...... So much for wall street reform.....
"Credit Suisse Securities (USA) LLC acted as lead book-running manager for the offering, RBC Capital Markets, LLC and UBS Securities LLC acted as joint book-running managers, JMP Securities LLC acted as lead manager, and Stifel, Nicolaus & Company, Incorporated and Needham & Company, LLC acted as co-managers."