Synairgen Share Price (SNG)

I note a failure of a major phase 3 NASH trial at Gilead last night.... At the margin, this increases the interest and value of our fibrosis product, which is in the process of being licensed out by our Australian friends...NASH/fibrosis is such a massive, largely unmet area of need....

Building on my previous guesstimate I've noticed that this is setting up very much in line with two common bullish chart patterns in case any of you like that sort of thing.

Inverse Head and Shoulders formation: https://pbs.twimg.com/media/Dy0GsqPXQAAvCX2.jpg:large

Cup and Handle formation: https://pbs.twimg.com/media/Dy0Hg26X0AEpVpB.jpg:large

Closing bracket should obviously have been after "here" in the first sentence, not at the end.
Ballsed that up.

As I'm bullish (or I wouldn't be here I see this playing out a couple of ways most likely).
https://www.tradingview.com/x/2n57z3sZ/

Either it bounces off the second upper black line and breaks up and outwards through it.
OR
It dips back through the second upper black line, into the main uptrend channel, and into the shaded cyan circle.

I think the last test of the bottom of the channel showed nobody wants to sell and it bounced strongly upwards and therefore I expect if it dips into the cyan area, with the usual spread of 1p or 1.5p, most of the bottom half of the circle will be the spread itself, and therefore there'll be a very short amount of time to buy at 15.5 or more likely around 16p at best. I expect it then to head back to the top of the channel again and try to break it.

So selling to buy back would be quite risky in terms of being locked out, if it bounces upwards in scenario 1, whether due to news, simply due to buying/lack of selling. It wouldn't also be particularly worth it in scenario 2 as, after taking account of the spread, you probably wouldn't be making very much at all.

Of course neither scenarios might be right......but personally I think it's very likely one of them will be ;)

Indicate some pullback followed by a renewed uptrend. Good time to pick a few more up in coming days.