What worries me is that in last a few months, there were a few good announcement, and none of them seems changed the downward trend of SP. This is not usual. I still don't get the logic behind this, or the market is as crazy and no sense as it always is. From a Technical Analysis perspective, the monthly chart has a very strong support around $8.30 area, which I don't think we will ever get there. Patience is the key and what history told us that the change will come when everyone feels hopeless. Personally I still believe we are close to a turning point, which the is the clarification on the phase III trials.
Just remember, the SP was up and down several times between 50c to 3.5 from 2013 to 2021, that is a 8 years consolidation, before a massive break through at the end of 2021. So my conclusion, this is nth new but a consolidation and waiting period before a big fundamental change, and it may take as long as a few years.
NEU Price at posting:
$11.99 Sentiment: Hold Disclosure: Held
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