Short
PFNX In Descending Channel
Updated
Long a few Dec $5 puts. Should have enough time to see trading drop to support.
Low volume is not ideal. Far from it. Might not be worth relying on too many technicals when volume is thin. Being that it's biotech company, it can make quick and severe moves in one direction or the other following announcements of positive developments or failures.
What are your thoughts on applying technicals to companies like PFNX?
Cheers !
Low volume is not ideal. Far from it. Might not be worth relying on too many technicals when volume is thin. Being that it's biotech company, it can make quick and severe moves in one direction or the other following announcements of positive developments or failures.
What are your thoughts on applying technicals to companies like PFNX?
Cheers !
Note
old these puts to close @ 1. Trading has been well within the channel, coming close to support. Should see stock continue to slowly make its way down. Not much price action here. No volume. I probably owe lady luck a beer after buying these @ .80.
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