Here you see a volatile pharma stock with fantastic earnings and only a single product. The volatile action over the summer attracts a well known shortseller who takes a heavy short and then issues a very negative "research report" that spooks a few big holders that throw their holdings on at market. Mr. short covers at a fantastic profit and probably goes long along with some smart money opportunists in October. These guys cash out at beginning of November leaving us at the Wave 4 low shown which is really a Wave 2 on a longer time frame. Now what?
Likely scenario is a good earnings report (and a new dividend) will attract more buyers. Financial news will shift from touting the disaster to some coverage about how it was all overdone, blah blah.
I'm guessing there is a good opportunity here.
Likely scenario is a good earnings report (and a new dividend) will attract more buyers. Financial news will shift from touting the disaster to some coverage about how it was all overdone, blah blah.
I'm guessing there is a good opportunity here.