Aug. 19 at 4:13 AM
$GALT rising wedge pattern playing out, generally considered a bearish indicator. If no news, need to break above
$3.70(wedge lines meet this Friday)... if not
$2.80's may be in play(not expecting this, but it is possible).
Short volume was 77% of yesterday's daily volume, but only 47% of today's daily volume. Both days we saw significantly more buying than selling, including large block orders. 250,000 shares available to borrow.
Shorts may be covering? If so price isn't budging much, which is discouraging.
RSI is at 50, which I like. Nice and neutral for a big bounce off of good news.