Firstly it was a market drawdown of pretty epic moves where many leaders came off 30-40% in a few weeks. BOTs reaction to that was back within 10% of all time highs on the recovery.
Then just as the dust settles, Trump announces the Healthcare pricing reform, and bam, another 12-15% dump, all the while price recovers to hold at, still, an impressive 25% premium to the CR of just a mere month ago.
I think it’s held up extremely well. And as leaders will show, the longer the base formed the more sustained and better the eventual breakout.. The current pattern has still been quite wedge shaped, usually meaning it needs more time to absorb the supply and demand of its shares before the selling dries up.. I gave that process a Month or two to play out last week.. I probably favour a move towards the low 50c area in July before a strong gap up break out into the 60s and higher on Quarterly report and then full year report..
The only thing that will change that for me is if the company provides a business update because that shows higher than expected prescription rates.. And in that case, it could gap up into the 60s area on one like-type announcement..
IMO
BOT Price at posting:
40.0¢ Sentiment: Buy Disclosure: Held
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