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AwesomeAvani
Aug 6, 2022 7:27 AM

SBTX Penny Biopharma on ROUNDED BOTTOM REVERSAL - Daily Chart Long

Description







NASDAQ:SBTX


with upcoming earnings
chart shows
s
  • upport and resistance from pivots
    ascending higher highs and higher lows
    support /resistance from long-term volume profile
    early reversal after May 13th earnings
    uptrending EMA ribbon
    pull back within the uptrend 7/15-7/27
    rising relative volume since May 13th earnings
NASDAQ:SBTX

The potential red flag is the company seems to be
setting up for a merger at the end of the year
and a press release suggests that the only product
will be a decongestant nose spray ( Niffy)
with a new ticker SPRY

So the question is trade off the curent techicals
but pay heed to fundamentals and upcoming guidance
from earnings ? What is your opinion ?
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