The way I see it is that initial enthusiasm shot the price up...

The way I see it is that initial enthusiasm shot the price up from way below 'value' to a reasonable level (around the $2 mark) given the high remaining level of uncertainty (trial not started etc). Inevitably at some point profit-taking started. Prospective buyers then held off, while stop-losses went off sequentially and the short termers weak-kneed etc bailed out, also sequentially. An announcement of first doping could probably have stopped the rot at any point, but there wasn't one. Equally inevitably, at some point the rot will stop at least for a while, even if the announcement doesn't come, because of the build-up of prospective buyers not wanting to be caught short by an announcement. And so it will go on, until there is an announcement, probably causing a wedge pattern because that is the natural pattern in the circumstances. Get used to alternating pain and pleasure, and just wait for the announcement. Oh, and of course, then be prepared to go through it all again waiting for the results announcement.....