$BOT - BOTANIX PHARMA - Buyer and Sellers Showdown.

BOT is starting to look interesting again but a big stand off between buyers and sellers both pretty evenly matched at current price points. Its broken past it end of last year flat patch and bounced off a retest of it. If it breaks up there is quite a bit of room it could run so will keep it on the watch list for now and watch for the break of resistance. Its financials etc are terrible so only looking to ride it while it runs.

Botanix Pharmaceuticals Limited, formerly Bone Medical Limited, is a pharmaceutical company. The Company focuses on developing medical dermatology products for dermatologists and their patients. Its segments include Research & Development and Corporate. The Company's products and pipeline products are all based on drug delivery technology known as Permetrex, which helps solve the challenge of delivering active pharmaceutical ingredients across the skin. The Company's products, which are under development, are focused on modulating the body's endocannabinoid system of receptors which regulates skin function, growth and renewal. Its product pipeline includes BTX1503, BTX1308 and BTX1204. Its BTX1503 is a transdermal gel formulation used for the treatment of serious acne in adults and teenagers. Its BTX1308 is a transdermal gel formulation used for the treatment of plaque psoriasis. Its BTX1204 is a transdermal gel formation used for the treatment of atopic dermititis.

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Nice quick gain so far.

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At a good support area at the moment. Quite a bit of upside if it can return to old highs.

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Back at a break out area, but given the current market not sure if it will get through it this time and volume looks pretty weak. Have an alert set.