has been drying up somewhat over the last week as the price per share has pulled back below a key support / resistance point of $7.75. Trading closed on Friday Jan down $0.45 (5.7%) to close the week at $7.29. By the way, Fridays short was 49% of the total of shares traded on the day.
We, once again have the potential for a significant (short) squeeze if the price can get back above $7.75 with strong . I expect this stock to start to fill the huge gap that was created when Ariad's drug (Iclusig) was temporarily pulled off the market. The FDA has since approved "new labeling" and the drug has been re-launched in the U.S.
Expect a very volatile near-term future and keep an eye open for that resistance break. According to Barrons http://quotes.barrons.com/ARIA?mod=DNH_S_cq ~24% of the float is held short..
I am sticking to my previous price target of $10.00 or higher by the end of February 2014'
Happy trading !!