FLXN reaching a 100% retracement of the run-up from last year. A huge short play could be in the making if it cracks under 19.05 and holds. I would wait for confirmation, but we could see a measured move down equal to the length of the pattern (32.25-19.05 = 13.2) While I don't think $6 is realistic, I believe that you may be able to cover in the low teens or high single digits. They are waiting to get the J-code and that would probably be the next move up based on any FA.
Commentaire:
Looks like 16.63 could be support going all the way back to last year. We may see a dead cat at that area. Look to temporarily close your short there.