Stock was up almost 400 pips today on heavy trading volume
after the company reported positive efficacy data from a Phase 2 trial for its genital herpes treatment. It rallied until it exhausted itself at Oct
2014 multiple resistance area
(7.75,8.25 respectively). Indicators are signaling a Pullback is imminent, prices could consolidate around these levels for a while and on from that period will help determine direction. Although today does look promising unfortunately in my opinion on researching this company it does have a number of negative factors which could well outweigh any positive news and data that comes out here and there. Also the history of the stock's performance isn't great, before todays
data the stock was in a downtrend...that can't be ignored.