LuckyDinAZ

Possible plays, short to long

NASDAQ:BSTC   BIOSPECIFICS TECHNOLOGIES CORP
13 0 1
Recent downtrend started in July and has been trading between two longer term resistance lines, one of these was breached early July and has now become support the other continues to offer resistance. The price is currently approaching another longer term support line that is below the current price. The recent downward momentum has thrown off SQZMOM and CM             Williams indicator, and believe that they will indicate another reversal once the price has dropped nearer to the bottom support line. Belief in a reversal is due to the increase in CMF             as the price has been declining, as well as an improving CCI indicating that the downtrend may be losing its momentum. From the news stories I can not determine why the price has been in the recent downtrend, there was positive news in June with a successful phase two trail, then positive net income reports in August, It was upgraded by Zacks to a strong buy with a $45 dollar target. If I am missing something please tell me.
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