Following up with the
NRXP
levels from earlier this month, it looks like before it reaches the 618 fib line, there's a pretty clear area of high traffic that has acted as both support and resistance over the last few months. That happens to sit right around the $28-$30 area. Aftermarket on Friday, NRXP failed to hold above it and settled back down just shy of $27. With 2 big volume days on the front end of this move, it will be interesting to see if this same area will act as resistance or if NRXP can firmly push back above it to possibly test the 618 fib level. Also, the 200DMA may be an interesting technical trend line to follow to see if it ultimately acts as a new support for the stock.
"According to the company, 'In the recently-completed phase 2b/3 trial, patients treated with placebo experienced a statistically significant elevation in interleukin 6 (IL-6) cytokine levels, whereas those treated with ZYESAMI™ had a minimal increase in IL-6. Change in cytokine level was a prespecified endpoint of the study.'...The data were submitted to the FDA as a supplement to its pending Emergency Use Authorization application. The company has also planned on submitting a biomarker letter of intent to the FDA. NRX has explained that cytokine release syndrome or “cytokine storm” has been related to mortality in a number of conditions including Acute Respiratory Distress Syndrome. Since these data also have to do with a pending EUA application for ZYESAMI, Wednesday’s further details may be something to keep mindful of heading into the week."
Quote Source: Small-Cap Stocks To Watch After CYTK Sheds Spotlight On Biotech
NRXP
levels from earlier this month, it looks like before it reaches the 618 fib line, there's a pretty clear area of high traffic that has acted as both support and resistance over the last few months. That happens to sit right around the $28-$30 area. Aftermarket on Friday, NRXP failed to hold above it and settled back down just shy of $27. With 2 big volume days on the front end of this move, it will be interesting to see if this same area will act as resistance or if NRXP can firmly push back above it to possibly test the 618 fib level. Also, the 200DMA may be an interesting technical trend line to follow to see if it ultimately acts as a new support for the stock. "According to the company, 'In the recently-completed phase 2b/3 trial, patients treated with placebo experienced a statistically significant elevation in interleukin 6 (IL-6) cytokine levels, whereas those treated with ZYESAMI™ had a minimal increase in IL-6. Change in cytokine level was a prespecified endpoint of the study.'...The data were submitted to the FDA as a supplement to its pending Emergency Use Authorization application. The company has also planned on submitting a biomarker letter of intent to the FDA. NRX has explained that cytokine release syndrome or “cytokine storm” has been related to mortality in a number of conditions including Acute Respiratory Distress Syndrome. Since these data also have to do with a pending EUA application for ZYESAMI, Wednesday’s further details may be something to keep mindful of heading into the week."
Quote Source: Small-Cap Stocks To Watch After CYTK Sheds Spotlight On Biotech
