This stock is undervalued below $10-20, not a reason in hell to sell before then as the hard stuff has already been done i.e. Phase I/II/III. Even when I do sell I sure as hell am not going to waste money on commodity/energy stocks which still have room to fall. Deflation city baby !
I have already done the preliminary TA, above 5.75 it will start behaving like AQXP with all its historical moving averages under it to provide excess buoyancy for it roam higher.
There was a lot of fixed resistance before in the 2.6-2.8 range, if that is now support that is good news because it will hold the stock up until the recent moving averages catch up to provide more buying push pressure.
Today's fireworks from the 2.54 moving average support are looking pretty good in my book. Fundamentals tell you where a stock is going but TA tells you how you get there.
As I claimed yesterday, 2.54 is the point at which fireworks start going off ! ;-)
Once you truly understand TA, unexpected price movements are no longer a mystery ;-).
Salient points :-
On April, 1, 2015 , Aquinox filed a shelf registration to sell $150 million of stock.
It is noteworthy that the last oral therapy approved by the FDA was Elmiron in 1996 . Elmiron has $279 million of annual sales ( source ) which indicates that any winners from the above indications, whether Allergan or AQXP, will fight with an old dog that owns the market for oral therapies in the space. With Elmiron's $279 million in current revenue, does this imply that even with a 50% market share that Aquinox's sales potential is a fraction of what research analysts are using to justify its current $2-3 per share valuation.
Some truly excellent DD in this article that anyone who intends to be a long-term Long should read.
'I see this settling at 12-15 eventually'
Stock consultant has identified the highest support at 10.28-12.88. If the stock can settle at or above this it will rise again and be a good future trading stock.
CURRENT PRICE 18.88, not at resistance or support
RESISTANCE ABOVE None.
SUPPORT BELOW -38.7% at 11.58 ± 1.3, type Triple+, strength 10
-51.3% at 9.19 ± 1.03, type Triple+, strength 10
-62.1% at 7.16 ± 0.8, type Triple+, strength 10
-89% at 2.07 ± 0.23, type Single, strength 8
-91.7% at 1.57 ± 0.18, type Single, strength 8
What's an even bigger buy signal is that the stock is rising on low volume which implies the rising moving averages are beginning to exert upward pressure. It's a small spike from here to squeeze and send the shorts scurrying over $3.
Heh no, it's just a made up name like say Kasabian ;-) It can also be read as Mars Avian i.e. Martian Bird, a nod to when I was into a space stock.
Profit taking. Everybody who has bought this stock before today is still in profit. This may take a few days to shake out until it finds a new stable level.