FLMD biotechology rising post earnings

FLMD had earnings in May with positive earnings beating the expectation of analysts that

it would continue to lose quarter after quarter. Investors and traders have reacted with a

80% run-up in the month after those earnings. On the 30-minute chart besides the consistent

uptrend with minor corrections, what stands out for me is the increasing volumes relative

to volumes before the last earnings report. Off the chart, I find information that insider trading

with buying more shares on top of existing holdings leads me to believe that this company

expects increasing revenues and sustained earnings.

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