It's been whipsaw city out there for awhile. Very goofy. As for ASND I think the market has been in a holding pattern for the last few weeks, with low volume and tight BB's, potential buyers and sellers waiting to see whether there would be continued deterioration from last quarter. Even in the absense of buyout rumours I think there would have been a rally anyway after management's reiteration of estimates yesterday. If they can manage expectations at levels that can be met for a few quarters and start growing earnings at 25-35% from here, then we might have seen the bottom at 22. The buyout factor clouds chart interpretation, but FWIW the weekly MACD has turned up and downtrend lines were broken on RSI and OBV. OBV also shows a positive divergence. Assuming a buyout fails to materialize, over the next few days those who bought expressly based on that expectation will sell and we can see what part they played in this jump. It's my guess that the price will fall back to the 26. region, volume will dry up again as a new, higher bottom is put into place, and then it's up from there, assuming the broader market cooperates (not a small assumption) and no nasty surprises arise in the next report. If the company can grow 25-35% from here, 35-40 targets shouldn't be any problem, IMO. Who knows, maybe they'll surprise on the + side a couple of quarters down the road, then it's off to the races again.
Just my take on things; we all like to sling it now and then.
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