SMMT - risky Phase 2 play 03 22/2024
Summit Therapeutics Inc is a biopharmaceutical company that focuses on the discovery, development, and commercialization of novel antibiotics for serious infectious diseases. Its CDI (Clostridiodes difficile infection) product candidate is ridinilazole, an orally administered small molecule antibiotic. It has two geographical segments: the United States and the United Kingdom.
This is not a financial advice!
Upcoming catalyst on 03/22/2024 - very speculative!
Cup and handle
Recent block buys
Shs. Float 87.26M
Short Float 19.16%
We need to stay in a bullish overal sentiment of the market. If we see a corretion, this play might doesn't work.
Keep an eye on 4.8 level, needs to get broken for a further upmove. You can take partial profits at these levels if u want to lock in gains.
SL under 3.5
TPs approx. 5.7 or 7.5
Most info on the chart.
Trade carefully!
This is not a financial advice!
Upcoming catalyst on 03/22/2024 - very speculative!
Cup and handle
Recent block buys
Shs. Float 87.26M
Short Float 19.16%
We need to stay in a bullish overal sentiment of the market. If we see a corretion, this play might doesn't work.
Keep an eye on 4.8 level, needs to get broken for a further upmove. You can take partial profits at these levels if u want to lock in gains.
SL under 3.5
TPs approx. 5.7 or 7.5
Most info on the chart.
Trade carefully!
Trade closed: stop reached