SLDB For those following Fib levels, SLDB’s surge from $2.41 in mid-May to over $7 has tracked cleanly through key zones. The stock hit resistance right at the 0.618 ($7.33), which also lines up with a prior breakdown area.
Until we get news on potential accelerated approval, FDA meeting outcomes, or another catalyst, this may act as a short-term top. A healthy pullback to the 0.5 ($6.39) or even 0.382 ($5.45) wouldn’t be surprising. Holding above those levels likely keeps the bull case intact.
From here, price action, IMO, hinges on whether bulls can defend key retracement zones -- or if momentum fades without a fresh trigger. Fib levels have been respected on the way up... and probably will be on the way down, too. Stay tuned.
Until we get news on potential accelerated approval, FDA meeting outcomes, or another catalyst, this may act as a short-term top. A healthy pullback to the 0.5 ($6.39) or even 0.382 ($5.45) wouldn’t be surprising. Holding above those levels likely keeps the bull case intact.
From here, price action, IMO, hinges on whether bulls can defend key retracement zones -- or if momentum fades without a fresh trigger. Fib levels have been respected on the way up... and probably will be on the way down, too. Stay tuned.
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