Will It VRPX Right By This Resistance Or Fail Again?

VRPX is another one of the former penny stock darlings of the year. Big breakout mid August put it on everyone's radars now it's about sustaining this higher price level and subsequent valuation. At today's price of around $20.25, the market cap is 3.5x the size it was just a few weeks ago. Thanks to FDA related headlines, VRPX stock skyrocketed. "The FDA has indicated that Virpax may pursue an NDA drug approval with the Office of Non-Prescription Drugs. The Company has engaged Syneos Health to assist with the optimal clinical trial design based on an efficient timeline."

Now that it seems to have found a home north of $15, levels are coming to light. Right now it looks like the 50 fib line is that pivot. Following the big breakout it was somewhat of a "no man's land support" and now it has acted as resistance, rejecting VRPX each time it's been tested. However, the last few days have seen an uptick in daily volumes so that could be something to keep a closer eye on right now.

"Regarding the latter, VRPX stock is the latest penny stock darling to experience an explosive move. Monday afternoon, shares were trading below $4.50 & as of mid-morning on Tuesday, the former penny stock broke above $10 a share. Now, if you’re wondering what the VRPX stock forecast is moving forward, your guess is as good as mine. In parabolic instances like this, fundamentals can begin playing a role to justify a stock’s price being so highly valued... VPRX isn’t the only trending penny stock today. Retail traders are posting images of Robinhood charts that include other big movers..."

Read More Link: 4 Trending Penny Stocks On Robinhood You Should Watch Right Now