Today's action needs post mortem.
The share price shot up from $3.2 to $3.37 and then $4 followed by $4.15...all closing prices of course. But the RSI on this went up over 70 in the last 2 days. It was simply too violent a move, for an event that was actually inevitable, so we ended up over bought.
Normal daily volumes since Jan 1 2018 have been about 122,000 (I am not including the US OTC markets but the story does not really change even if you include them). We shot up to 400,000 on Monday, 739,000 on Tuesday. So we had a classic blow off rally on Tuesday...new high on huge volumes.
The good news is that the MACD is now firmly positive for both daily and monthly moving averages.
The bad news is that on a fundamental basis, we only have a financing announcement, before the long wait for the top line data.
News on the financing will define the range, IMHO. If we break above $4.50 after financing is announced, then the new high is the upper range...and $4 is most likely the lower range.
After that, we have a long nervous wait for the big day.