I knew it would make a Fibbernacci of me. But Spid, I'm tellin' ya, we are at rock bottom and at the juncture of making that valid ATL starting point! The chart resembles a slinky that has reached the bottom of the stairwell (aka ground zer0).
Time will tell but we are no longer in the dinosaur era of immunotherapy and Dalts put it extremely succinctly. Take the the dibber dobber fibber out of the picture (for a week plus however long its going to take to get to the 78.6% retracement level) and history will have been made! I'll repost an updated version then.
Ok... another week and will the MFI and Stoch repeat for an upward move out of the duldrums coupled with a reversal in Avg True Range? I reckon so. Seems that small CRs before milestone achievements of companies with a battered SP can manifest in much improved chart composition. Besides, the biotech sector is on the up and up... green shoots should start to sprout in July.
Buy now or buy even lower (if the usual SPP malarky spoils the base to the downside) has to be the way go (no financial advice intended). Just seems like a no-brainer (arrr arrr).
PS:
@slick, is it safe to assume that my Fib chart elsewhere is applicable and valid? Respect your Chief Poobah TA analysis, perspective and discreet tutorials on my other bio stock, btw (amongst all the nonsense posts by a particular fraternity). Cheers
(20min delay)