Dont care about the News, it is a market leader in pharmaceuticals,
and it will overcome all such situation in due course.
is near MEMA 89 is = 716 a strong support.
A 61.8 % retrace of the total Bull run started
from the early 2009 is laying near 645, has a confluence
with the shown PF channel (subjective view) support.
645 is the 62% retracement
Generally people have to wait for a base building etc, Then make an entry in to the stock
on finding a trend reversal. Every time you cannot expect a same situation.
This FDA issue, or any matter for that reason, made the stock to come to its value now.
As marked in the chart, 645 is a 62% correction of the total bull run form 2009. check it again by yourself.
I thought, it may find a support at this range, but LUCKLY it came further down.
Next level is yet another 62% retrace of the bull start from apr2005 is 550 approx.:
Also I have this gem in my alert list, and will definitely notify when ever I find a trend reversal.