tax loss selling crashed natural rebound of CXRIf it brealk 4.45 next week, and stay there for a few days, it will be confirmation of my belief. Technicals are very important. CXR used to be 8 b company, still has EV of 3.5 b. There are many players here. Technicals can not be ignored. Next support will be $2.39 us, 3.13 canadian unless there is positive news in next 3 months. Possible positive news include:
1, paid to the ventors as promised
2, some news drugs sell well, and guidance for next year is going up instead of coming down
3, sell portion of CXR, for example, orphan drugs. and paid some debt.
i put those odds in less 50%
possible negative news
1, did not pay to the vendors
2, more impairment charge because of new regulation in UK
3, guidance is coming down.
it is more likely to have negative news.