Jan. 27 at 9:31 PM
$TXMD Just like that, 5 days of green closes get taken out and we are no longer overbought. Short interest from Jan 1 - Jan 15 increased by nearly 40% to around 87.4K. Still not much in the grand scheme of things. Only 0.76% of the float. But given the lack of volume, and low float, 87K shares covering can take this up
$0.50 really quick. If any or all of that SI, should it still be in play, it's currently burned at any price over
$2.24, which was the high for that period.
You have to believe those same short sellers are trying to average up right now. Just went from a daily RSI of 82, extremely overbought, to a more manageable 61. The pps can go either way from here on out, depending on the volume and who's responsible for it.
