If it weren't the 1M short.
Would be crucial for this company.
We should be able to see $15 in about two months just when the market is expecting the Phase IIb trial result or any update news and the technical rebound from the falling from $32 to $10.
Given that so many items - 150 are in this same bill, the chance the bill will eventually pass is pretty high, isn't it?
After the bill is passed, they would need to decide the lens of each item separately and to make some of the tax incentives permanent. Hope the $1/gal credit for bio-diesel will be among the ones made permanent.
So are you suggesting the information in this post is incorrect?
Mind to share your knowledge or insight on the similar bill?
Today's action is pretty normal and I would expect we keep trying $12 for the next few days.
There is no way to breakout such an important resistance for the past year so easily unless it's a false breakout.
If we cannot breakout $12, it's not a surprise to me too and that's why I am not having big position now
Have I told you that it's good for you to keep quiet due to your poor investment history on SYNM? Listen more and speak less. Listen quickly and speak slowly.
Of cause fundamental is the base of any technical analysis.
This stock won't be able to get to $16 - $20 without tax credit extended.
But sometimes the technical charts could tell you the story behind the curtain even before it happens.
Classic double bottom on weekly chart and multiple bottoms on daily chart.
Breakout at $12 - $12.50 with volume and then pull back with little volume to confirm the breakout.
I will add more position once the breakout is confirmed.
Imagine 6.5M shorted shares to cover if the breakout is successful.
The target for this near one year bottom could be $16 - $20 or even more.
You mean the $5M investment?
Maybe the investment price is not finalized yet but I think the number may be $10 - $15 per share.
The last offering was $10 but since then the company is at a better position financially.
And don't forget the stock price once reached $32 this January.