Ok lets have some charts - I looked back at the guy that started this TA thread - go have a look he is good
But really we should stick to TA on this thread - there are plenty of other threads for opinions I assume ...
The question currently is how low or deep/far will the pullback be - I am not really across all the detail of how many free options or blah blah were given out on the raise
maybe a better use of the discussion would be to work that stuff out
The people that do a sensible analysis of the value of everything taking that into consideration are the ones that are able to do the work and therefore credible if they make a sensible argument
That said chart- and it is a wider view - close to 50% from the high here this can be a long game - just gotta watch and see if the support buying comes in and holds the price at a level
When news flow comes in and how good that is - the base here is of particular importance - the last rise was exciting but the fallout now is important to watch - notably the rise was not extreme volume so that is a good thing imo
Some sideways basing here is good even though we took over this chart at the white vertical - line the support lines are currently relevant
I do take into consideration the questions over MC - however - those concerns should be a bit based on biotech valuations rather than comparisons with non relevant sectors - you can't really use a pineapple on it's own you have to use some sort of benchmark - and the past is maybe not either a good guide - pretty difficult - but the past run of biotechs is maybe also just a starting gun to the true value now - especially if they come through and deliver the results -
Or do we have another way to value things in this arena ? this is the point here - it is not really enough to just say it is too high - it needs to be more detailed as to why no or yes - what we do know is that biotechs in other world markets have a lot more speculative value ?
Again I am interested and happy to be tagged in on the discussion threads to a conversation on this point
Lets see how we hold up over the settling in period of who takes up offers etc - better to follow the chart and volume for progress rather than bicker
The high was epic holding a nice base now will be supportive and good
(20min delay)