Although the company could be doomed (awful financials), I think price movements for VTVT could be exploited by gamblers and are interesting as a sort of academic study. There appears to be a stubborn resistance at about 7.60 which has frustrated the recent buyers. I thought that the huge increase in volume on December 29th and January 23rd might push through but it's back into a descending wedge. It looks like it could approach a $4 low, do you think that there's a realistic hope of a 30% gain in shorting it now?
Comment:
Wow, I wish I had made my bet and sold it short! It closed at 5.82 on March 14 and at 3.26 on April 9 which would have given a profit of 43%, but yesterday it collapsed to 71 cents, that's about 87% from March 14th!! Oh well, at least I'm starting to feel a bit more confident in spotting the opportunities.