Ziop will either go to zero or double a year from now, forming doji off 52wk low of 1.90. Long from 1.98 with a stop below low. Currently trading outside of weekly Bollinger bands (20) low, with a potential doji forming today off the lows. Earnings coming up, not expecting the numbers to wow anyone but place enough pressure on the short sellers to take some profits and cause a near term bounce. Currently at 24 days to cover in Sept it was at 48 days and new numbers come out today. Will look for a decrease of short positions into earnings as a positive indicator to hold position with a looming catalyst for a short squeeze to occur the probability seems sufficient.
Comment:
Off to a good start battle at resistance now, stop loss moved to 1.99 in case reversal negates.
Comment:
Stop moved to 2.12 based on 15 min chart volume spike, new base of support
Comment:
Position closed at 2.33