As you can see from the simple chart below. INO appears to be back on its path of growth it was on before it went Parabolic on the news that the DoD was buying $70m worth of Inovio vaccine injectors. They are submitting their Phase I trial data to peer reviewed journals (as it always does) on Monday. None of the other vaccine candidates in Operation Warp Speed have peer reviewed studies on any of their CVOID19 candidates.
This in combination with being accepted into Operation Warp Speed almost guarantees funding will be coming from Barda or CEPI as every other candidate in OWS has received. What you are seeing here is the MM manipulation knocking out scared retail to buy up the stock. For some context you can see MRNA chart behaved in a near exact way. Peeking at 31 a share on good news of a mouse study before the sell of to ~$18 and then slow steady climb to a ATH $91. INO also behaved in a similar fashion last month on pre-clicincal study where it rocketed the stock to $20 before it sold of back down to $13. This is classic Biotech market behavior.
This in combination with being accepted into Operation Warp Speed almost guarantees funding will be coming from Barda or CEPI as every other candidate in OWS has received. What you are seeing here is the MM manipulation knocking out scared retail to buy up the stock. For some context you can see MRNA chart behaved in a near exact way. Peeking at 31 a share on good news of a mouse study before the sell of to ~$18 and then slow steady climb to a ATH $91. INO also behaved in a similar fashion last month on pre-clicincal study where it rocketed the stock to $20 before it sold of back down to $13. This is classic Biotech market behavior.
Comment:
Pretty sure stock was held down today so those July 2nd contracts would expire. Should see some good growth Monday on this alone. Peer review of their phase I trials start Monday. I think it will be a good week (July 6th) for INO
Trade active:
Next resistance is $27. Profit takers from NVAX might be helping this drive. 1 day RSI is very cool and MACD is crossing. Should have no problem hitting $27.