Based on studying the charts available on the Net (I've yet to lead Supercharts, but I'm leaving my 14 hour a day job next Friday), I can't find the wide trading range suggested a while ago. Currently, there seem to be price support at 4 1/8 and really strong, strong resistance at 4 7/16. Given the fact that this range is small, It's going to tough to fall below 4 and nearly impossible to pass 5.
Working against the stock is the cash position of Sunrise which seems suspect in terms of any long term delay by the FDA. Even if the private placement mentioned diluted the stock, the overall impact of raising cash would be a strong net gain.
Sunrise looks like a company with the greatest of all products that dropped from $10 to the mid $3 and sits suspiciously perched in this narrow trading range in the low $4,s.
The upside on this far outweighs the downside, even given that the stock could rapidly deterioiate on any bad news about PMA or eventual FDA approval. As much as I'd like to own more, and lower my base, I'm sticking and hoping that Rainer is wrong (for the first time) about 3 7/8. From my point of view, it would take bad news to go there, and then is $2.50 out of the question. |
