I'm looking for advice about STXS. It has been driving down four days in a row. And now it seems that it might bounce back. Any 2 cents?
it failed to break and hold the 200 dma on the recent bounce, on the way down from the 200 dma it sliced straight through the 50 dma and it's sitting below the 50 dma right now that's bearish
This is just reading the intraday chart, I see it rebounding to 1.4. Magic number on the daily chart is 50% of 1.9 (they trapped alot of buyers there during the recent run-up). Fib retracement to 50% of that price should shake most of them out... Btw, I don't follow technicals like MA's. I couldn't care less if the SP is in bear territory. The important part is the price-volume action and patterns. (DISCLAIMER: Above not a recommendation to buy/sell STXS. Info for your educational purposes only. Always consult with an investment professional before purchasing/selling a stock)