Aug. 4 at 4:02 PM
$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.
