From a technical point of view we should see a decent rally over the next few days.
14 day RSI is now around 20% - just started turning back up after Fridays session. I had a look back at the 14 day RSI over the last few years and this stock seems to always have decent rallies after dropping to 30% (oversold). Think this is the lowest the RSI indicator has dropped to in the last 5-10 years. However obviously just had one of the highest overbought levels of the indicator from phase 2 trial announcement so it's all relative.
May head back to the top Bollinger band around 12c-13c but more then likely only off the back of a positive announcement as seems to be the way with this stock. Interesting to see where it will meet first decent resistance level. I am thinking possibly around 10c which is roughly 14 day RSI at 50%. I would presume support level has been met for the time being.
SP Manipulation, page-62
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