$HPQ swoon is accelerating. Now extending below its 200d MA - a first since it upcrossed in Feb. This moving average was the last bit of support to this bear flag, so expect a quick test of the Fib retrace at $19.56. Anticipate tax loss selling to be a headwind into YE. Also potential for a bearish death cross of the 50d over the 200d. As such, our work suggests the 50% retrace will not hold long, and more likely we will see a spike to test of $17.63 (61.8%) prior to a sustainable breakout of this coiling pattern.
LGND merges (or aquires) the too be spun off royalty arm of Theravance (Royalty Management Co). Make a lot of sense given both have fresh royalty streams and close relationships with GSK. Also Royalty Management Co has yet to fully populate team nor explain fully their growth plan. Now that would be a great merger!