Keep on your watchlist for continuation in price action and buy side volume, looks like accumulation is underway and the fact it is a Pharmaceutical stock, Trial data or FDA releases could be the stimulus. Very speculative, but very rewarding trade setup on the chart.
COMPANY PROFILE Evoke Pharma, Inc. is a pharmaceutical company, which engages in the development of drugs for the treatment of gastrointestinal disorders and diseases. It develops Gimoti, with promotility and anti-emetic effects, for the relief of symptoms associated with acute and recurrent diabetic gastroparesis in women with diabetes mellitus. The company was founded by Matthew J. D'Onofrio, Cam L. Garner, Scott L. Glenn, and David A. Gonyer in January 2007 and is headquartered in Solana Beach, CA.
Accumulation began June 27 when Evoke announced they intended to resubmit their new drug application for Gimoti, which was previously rejected by the FDA in April. News that the application has been resubmitted could cause the stock to jump again.