GoPro Goes Berserk For detailed commentary and analysis, see our blog post published 10/3/14: www.syncubate.com
In this post, we'll dissect the stock's surreal run up from the low $50s in the beginning of September to its near-term high of $96.45 on 9/30/14.
Our chart as published on our blog represents two time frames of interest to us from a price action standpoint. The first is the daily time frame for GPRO going back to mid-July. The second is the 30 minute time frame from 9/23 - 10/2.
This post articulates two reasons for the run up in price, and offers a great example of supply versus demand in effect. For more analyses and commentary on the stock market, check out our blog: www.syncubate.com
Shortsqueeze
ACRX- 9 on the horizonContinuing coverage of ACRX this week, we saw ACRX pullback with the market as a whole early this morning. ACRX broke right through support at the .236 retrace, but found support at yesterdays congested zone at the .382 retrace. Uptrend remains in place. $9 remains 1st target. Stop now at 7.70.
ACRX- Short Squeeze AlertPosted a chart on ACRX earlier in the day as a possible short squeeze. ACRX rallied 4% since the posting. Please refer to my earlier chart for analysis.
Short Squeeze? Small Biotech- ACRXAfter getting hammered in July from the FDA delaying approval on its' latest drug for pain relief, Bears have been piling on making an incredible 20% of the float short. Recent buy ratings from analysts could be the catalyst to get a short squeeze going to begin filling the gap left from the huge 40%+ drop in July. If momentum can carry the stock past 8, then 9 is a real possibility in a short amount of time. Two analysts have a hold rating while seven analysts have a buy rating including Jefferies Group that has a price target of $16.