Days to cover has shot up from 6 to over 18 in the span of a few weeks, doubling from last week. SI has remained persistently high and crept up slightly to 37%. Some posts claim real short interest is 118% but the math is wrong there, as it assumes all shorts held by the company, insiders, and institutions are illiquid.
On top of this, FDA approval for expanded ANKTIVA use is set for this week, earnings next week, and it is nearing the end of its bullish pennant pattern (around May 21st), plus the MACD is about to reverse.
https://preview.redd.it/pplx42dtz7zg1.png?width=1041&format=png&auto=webp&s=2e164b91b4a7f3682e81c05443e0c2475ea7fc4b
What I want to see is a drop in and maintenance of persistently low share availability, which would likely be triggered by good news, and I want to see the cost to borrow go back up.