SNGX Potential Entry VWAP Support/50% Retrace

See link in comments for my coverage of this stock from 5/20. Stock has made it's move higher, gap filled and has found support at the 50% retracement level. Consolidation is occurring above a rising 50 EMA and the VWAP from the 2/20 peak. I would look for stock to reclaim 5 day EMA (orange) to initiate position. I have to expect further upside unless price breaks below 50 EMA or VWAP, which would force me to revise my outlook.

Company has 2 Phase III drugs, with one announcement coming Q4 this year. Company has no products on the market.

For press releases and pipeline info:
www.biopharmcatalyst.com/company/SNGX