One thing holding us back though, but boy, isn’t this a rally on it’s last legs..
In two weeks from just above $1 to $6.53 (Monday’s Feb 14 close)? Isn’t that a little too much?
Well, couple of things:
- FDA approval for Makena, a drug that reduces the risk of premature birth does wonders. But you’ll have to notice we’re not there yet. Clinical trials follow.
- Then there was a $32M private placement
And before you know, they had a party. A rather spectacular one for which the following graph is the best illustration (we have to create some space for letting the graph miss the adverts, sorry):
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Now, we think that with an RSI of 88, this party is running on its last legs. However, one thing was keeping us from selling those short-term out of the money calls that is a favourite strategy, the stock closed on the high of the day, which is all the more remarkable, because it rose near 50% today..
We’ll keep a very close watch on this tomorrow.
