ADMA is hovering around the 50 retracements with a lot of sell orders on the books probably from people trying to get out at 1.90. Buy orders look good though in the face of this massive sell-off. This is was after news dropped that analysts saw the price between 6 and 11 dollars. Although ADMA has been struggling to turn a profit most of these reasons have been to position themselves for the infrastructure necessary to start pulling in good returns. This FDA approval is looking more and more like the catalyst necessary to break through 3 dollars.
Trade closed: stop reached:
This was a pump and dump. Just like to say I learned my lesson. Top down approach would have saved me.