• • • Disclaimer• • • Please don't take this as a financial advice, remember I'm not a professional analytic, this whole idea is based on my knowledge, interpretation and opinion. This is only my Idea, don't buy or sell because of my idea. Do your own research in the company before deciding either buy or sell. Remember there is always a risk of losing money when you trade or invest in any stock, you must decide at your own risk.
Indicators in the Chart
• SMA 200 • SMA 60 • SMA 50 • Pivot Reversal Strategy • RSI • MACD • Bollinger Bands • EMA 15 • Fibonacci Retracement
Chart patterns
• The chart is doing the same pattern of the last run. After the pump did a drop and entered in a consolidation zone which looks like is getting to the end of the consolidation. Interpretation of the indicators • RSI got oversold and now looks like is leaving the consolidation area and preparing to start moving. • The MACD also show a consolidation but is getting closer to the 0.00 area and curling Down. • Bollinger Band are getting thinner and probably will break down. • Candles trading below the EMA 15, above the SMA 200, SMA 60 and SMA 50. • Fibonacci is showing a range of possible Price Targets. In the green area I think is a secure area to lock profits $1.28 to $1.38. If the trend continue it can reach from $1.38 to $1.74. Also, I think the Stock price can reach the $2.11 area if the pump is like the last one. All these price targets are from the Fibonacci Retracement.
• The company is working in a potential Covid-19 Treatment. • FDA is waiting positive results from an animal model to submit a request for investigational New Drug.
The company looks healthy and they have a couple of clinical trials in development. One of them is the COVID-19 treatment which is the new gameplay for most traders on 2020. Their COVID-19 trials still in the beginning of the development and with some positive news it can go higher because of the hype of COVID stocks. I think the stock have the potential to reach $2 in a short term. Chart patterns looks favorable and news looks favorable for this stock. It has a good volume AVG in the 90 days period (6.29M). Probably it can dip a little bit more before moving up. But I don’t think the stock will go lower than $1.00. Remember do your own research on the company and don’t buy or sell because of my opinion. This is not a financial advice or recommendation; this is my idea and interpretation.