No, PPK (eg) had a terrible down trending chart (not anymore). This is more like a sideways to lower long term drifting. All success stories have a bad period, that is why they are, well....success stories!
Technical analysis seldom works for these type of opportunities because one announcement changes everything. We are all in this because we believe they will achieve positive results for their trial. So whether this trend line or that level holds it really means nothing because it might break the "key level", drift down and then "boom" and all the technical guys will be left in the dust.
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