A month ago at about $7 this looked like a reasonable buy. It was not, but today, once again it may well be. It is now possible to put a reasonable credible count on this stock (slightly different from the previous one). It contains a rather clear 4th wave triangle and that adds a lot to the credibility. The RSI and MACD are also supporting a move up soon, perhaps after one more down day.

We like this stock at these levels. It has lost about 95% of it’s peak value and appears to have done so in what is best described as a double zig-zag.  Supposedly today’s large drop was due to the British Government having decided that generic drugmakers may no longer price at will. We have no idea why CXR would be affected other than that we assume that they sell some of their stuff in the UK.

The RSI has been oversold for about two months during which the stock dropped by 2/3. It is a full moon tonight and that is when you want to buy a stock like this. In fact at 3.05 p.m. tonight we will have a Harvest Moon and a lunar eclipse, and that is the perfect time to do something silly like buying this stock. We do recommend selling it again after a 50% gain after just a few days.