ABIO Bullish Divergence.


What is ABIO?
ARCA biopharma , Inc. (ARCA) is a biopharmaceutical company. The Company is principally focused on developing genetically-targeted therapies for cardiovascular diseases. The Company's lead product candidate is Gencaro (bucindolol hydrochloride), a beta-blocker and mild vasodilator that the Company is evaluating in a clinical trial for the treatment of atrial fibrillation ( AF ) in patients with heart failure with reduced left ventricular ejection fraction (HFREF). Gencaro is considered part of the beta-blocker class of compounds because of its property of blocking both beta-1 and beta-2, receptors in the heart. The blocking of these receptors prevents the receptor from binding with other molecules, primarily the neurotransmitter norepinephrine (NE), which activate these receptors. The Company is conducting a Phase IIB/III clinical trial of Gencaro, known as GENETIC-AF.

This chart was not easy to do because I got stuck on its all-time high, check the snapshot below. Anyways, we do have a divergence at play but it seems to be in a little correction and I suspect it is going to test support before going up. If you look at the chart I have located the possible bounce area marked with a dotted horizontal ray. How high can it go is the question and I leave that to you the reader to decide.

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