Higher low likely setting

IPA did their previous financing recently at around 17ish or 13.45 USD and ,so they are cashed up and with the covid variants coming in, I believe this is starting to set up to be a nice value play as I believe sentiments will eventually shift back into covid treatments. I believe the fundamentals are strong, but I don't feel like typing it out here, so I will go through the technical here.

1)On the rsi we can see hidden bullish divergence and a RSI trendline break
2)We can also see hidden bullish divergence on the MACD .
3)The candlestick pattern is not quite a bullish engulfing , but that we broke the highs of the previous 3 days is quite telling of the shift in sentiment.
4) We are near a long term trend line

in a smaller tf we can see that there was a bullish retest of a trendline and a smaller breakout that occurred as well.

If you believe in the thesis of a drawn out pandemic where the need for covid treatments and antibody cocktails are needed ,then this is a strong entry point.


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.