The 200DMA could end up being support, or it could break that level....its all tea leaves. I'll explain my thinking on the support area being in the $1.50 to $1.70 area we're in now though.

Back in early April it when the PPS took off and went briefly over $3, it was after having built support in March around the same trading range we're in now. With that being said, back in March RVX did drop down as low at $1.40 very briefly, so perhaps we'll see a repeat performance back down to the 200 dma area very briefly.

Ultmiately we know the recent Hepalink and Eastern financing was predicated on a PPS of $2.67 (if my memory is good, not going back to check)....so as things unfold toward the expected launch of Phase III I like our chances to get back to that price and then beyond.

If there is a drop to the 200dma I think it will be like the drop in March, very short lived and hard to catch.