New long hold for good startup Biopharma company

BATS:CNTB   Connect Biopharma Holdings Limited
Without looking at the news, the CNTB should have gone down to get more air and stay around the $1.6 zone to be attractive. However, the new news regarding Simcere obtained the exclusive deal with CNTB regarding phase 3 drug rademikibart providing CNTB immediate big funding ($21M-$121M). This may signal a very bullish run if the market receives this news as excitement. The CNTB is still able to develop and commercialize rademikibart elsewhere aside from the greater China region (China, Hong Kong, Taiwan, Macau). We detect here a Cup and handle patterns and suspect there would be a breakthrough ceiling at $2.83 after rallying around $2.5.

This is not financial advice but my view on CNTB at the current time!

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.