Short Term Trading Week Starting: 10 Aug, page-61

STTCOMP MSB TA Long

Massively oversold - 40% - over last two days when market became spooked from documents submitted regarding forthcoming FDA conference (Thursday 13th).



As can be seen, two gaps below, but today's selling of 9% was far less than the previous days 31%, and the market's candle today is showing some uncertainty.

In short though - definitely no pun intended - the stock reached today what appears a support level. There is still room for the downward RSI to continue, so the first gap may come into play. My guess though is that it won't, and the rise will be anywhere between the needed 25% and 250% in the next month if the forthcoming conference and C-19 trials are both positive.