interestedtoo that's not quite true that only occured once.
I hardly call 1 out of 5 history proven.
In fact on an average history proves exactly the opposite on VLA.
From the 19/4/11 up to the 27/05/11 four note conversions have occurred and the SP apart from a couple of slight pullbacks has in fact rallied from 4.9(.049) cents all the way up to 11 cents showing over 120% increase. Breaking through the ten cents almost always causes hesitancy and roughly a 30% retrace is very common. I could name many including AYN, FML and so many others that have done just that recently regardless of fundamentals.
VLA is in a much better position even though Biotechs can be extremely volatile the 11 cent SP has been hit twice recently and if we break through that this time it will most likely become a support level not a resistance.
If you review most stocks on the week after 27/05 the majority fell and many specks have fallen 30% since that date. From the end of May there is always a major sell off on the ASX (EOFY) until June 30. I hold other speckies that fell just the same. If your worried in this period you know the age old addage "Sell in May, go away"
If the announcement is FDA approved we should rally through the 11 cent no problem.
FDA OK VLA UP'N'AWAY!
VLA Price at posting:
91.0¢ Sentiment: Buy Disclosure: Held
