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$AMPE Ampio Pharmaceuticals Inc A Good Risk/Reward Play

Long
AMEX:AMPE   Ampio Pharmaceuticals, Inc
We are really liking the chart on $AMPE. You have the rounding bottom and there looks to be accumulation going on.

Currently trading at $.62 a share, the 52-week low is $.35 a share.

We believe $AMPE has breakout written all over it and there is an upcoming catalyst that can send the stock flying higher. The company is due to hear from the FDA shortly. Here's what the company said last month in its update:

Ampio Pharmaceuticals has been in contact with the U.S. Food and Drug Administration (FDA) regarding the Special Protocol Assessment (SPA) following its re-submission of a revised protocol for AP-013, which the Company believes implements all of the Agency's recommendations provided since the beginning of the SPA review cycle. The Agency confirmed that it would make every effort to expedite this review, however due to a heavy workload, they were not able to commit to providing a response to the Company's SPA re-submission earlier than the 45-day window outlined in the Guidance for Industry Special Protocol Assessment, leading the Company to expect the response will be in mid-June rather than late May 2019, as previously predicted.

There is some debate on social channels as to when this news will hit the tape. Some are saying any day now, while others are saying after the July 4th holiday.

As always, trade with caution and use protective stops.

Good luck to all!
Trade closed: target reached: We caught the spike higher and booked profits and ran.
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