We are are confident the stock will remain relatively stable now that the base of support is forming above the 200EMA. We will also look to buy the stock on weakness. Given that this is a BIOTECH that is dependant on clinical trials and FDA approval, huge swings could occur based on those outcomes.
Should the stock fall below the 200EMA and develops negative indicators, we will re-evaluate our position.
Our target price for this stock is $5.00 (fair value)