Anyone know any recent news explaining the recent weakness? I was looking at biotechs recently for some buying opportunities and this one fits all my technical criteria to short. I'm optimistic on the market right now, but considering shorting this particular stock. The following 60 minute, daily, and weekly charts all look weak to me and the stock recently penetrated downside resistance of 30. It looks like it could head to the low 20's quickly from this point.
stockcharts.com[e,a]eaclyyay[pb13!b50!i!f][vc60][iUj[$spx]!Ub14!Lp39,13,7!La20,26,9]&pref=G
stockcharts.com[e,a]daclyyay[pb13!b50!i!b200][vc60][iUa20,26,9!Uj[$spx]!Ub14!Lg!Uc20!Lp39,13,7]&pref=G
stockcharts.com[e,a]waclyyay[d19990101,20031231][pb13!b50!i!f][vc60][iUa20,26,9!Ue20,52,20!Uj[$spx]!Lb14!Lg!Lc20!Lf]&pref=G
Anyone long want to convince me not to short this one?
Tom |
