IDXG turnaround around the corner?
IDXG has gapped down twice over the last two days. It may have one more gap down left in it before it reverses. There have been many questions about this stocks price action, with a lot of theories, in the wake of a good ER, good pr (patent news) and debt restructuring and business expansion (all public info).
Let's look at what we know. On the weekly chart it has been in a downtrend for quite some time. However, you'll see here on the daily that you don't have more than 5 candles (at most) before a significant spike...followed by a significant drop.
If the pattern continues we will likely see one of the largest spikes yet (as shorts increase). The key is for $2.10 to hold strong in the range I have marked out going back to the gap down in early feb. Tomorrow it may hit the $2.10 area and I'll be looking for a big bounce from there. In the meantime, there's always the chance for good PR to help things along. I don't foresee management issuing a PO at this price level.
Let's look at what we know. On the weekly chart it has been in a downtrend for quite some time. However, you'll see here on the daily that you don't have more than 5 candles (at most) before a significant spike...followed by a significant drop.
If the pattern continues we will likely see one of the largest spikes yet (as shorts increase). The key is for $2.10 to hold strong in the range I have marked out going back to the gap down in early feb. Tomorrow it may hit the $2.10 area and I'll be looking for a big bounce from there. In the meantime, there's always the chance for good PR to help things along. I don't foresee management issuing a PO at this price level.
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