After the dust settles and all the bad news is out... The techs seem to be lining up pretty well with the welcomed addition of a near-term catalyst in the form of Phase 2 trial results due out at the end of Sept.. Good news has the potential to send this stock higher... Any bad news... there's not much floor left, so seems to be a great risk/reward scenario at...
- Possible retracement to upper wedge resistance upon breakout
- Possible return to lower wedge support before bounce higher
- Possible failed breakout of wedge pattern (take some profits @ touch of wedge resistance)
- Multiple signals/indicators pointing to lift off
- Only concern is falling three methods pattern (strong bearish continuation pattern)
- Tomorrow is the 5th and final day of pattern and will determine direction