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Botanix Pharmaceuticals Limited

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BOT trade ideas

BOT - Wyckoff Accumulation SchematicPotentially accumulating right now, publishing so that I can follow to see what happens on this one! Note that I've charted using Heikin Ashi as it paints a clearer picture on this. I've drawn roughly what you'd expect to see from here if we are in an accumulation range. Phase A: The Preliminary Support (PS) indicates that some buyers are showing up, but still not enough to stop the downward move.Selling Climax (SC) formed by an intense selling activity as investors capitulate. Strong drop quickly reverts into a bounce or Automatic Rally (A R)Secondary Test (ST) happens when the market heads back near the SC region as a test confirming whether the downtrend is really over or not. Trading volume should be noticeably lower. Often the ST will form a higher low than SC but this isn't imperative. Phase B: 'The Cause that leads to an Effect' - essentially, Phase B is consolidation where Smart Money is accumulating again. There may be multiple ST's during Phase B with the potential for higher highs and lower lows in relation to SC and AR from Phase A. Phase C: The Spring - essentially the Bear Trap before moving toward higher lows. The Spring should trigger stop losses from people who have entered during Phase A and B lows. Smart Money back at it again faking out retailers like us making us think we're heading low keeping us on the side before moving up. Note that a Spring won't always occur during Accumulation. Phase D: 'The transition between the Cause and Effect' - expect an increase in trading volume and volatility. Usually a Last Point Support (LPS) making a higher low before the market moves higher. The LPS often precedes a breakout of resistance levels which creates higher highs. This is an indication of Signs of Strength (SOS) as previous resistance becomes support. Phase E: Evident breakout of the trading range, caused by increased market demand. The trading range is effectively broken, and the uptrend begins.
ASX:BOTLong
by mr5neak
1
Bullish potential detected for BOTFollowing a few stocks in the ASX of particular interest, BOT represents a potential bullish opportunity should momentum continue and higher highs and higher lows be made past the current position. I'll cover this more in the upcoming weekly video, however as can be seen in the chart, the stock price is currently testing prior resistance (now support) of $0.14 and thus far intraday is also achieving good support from the $0.14/$0.145 level, aligning with technical indicators of RSI and DMI. Personal stop loss for the trade would be the low of the recent gap-down on 26-Sep (i.e.: below the low of $0.115).
ASX:BOTLong
by Ivory_Wolf
2
Key point on BOT - where to? Couple of things to unpack here, we're at a Pivotal point right now just holding the .618 Fibonacci retracement level on the recent move. DOW Theory suggests "The secondary, or intermediate, trend represents corrections in the primary trend and usually lasts three weeks to three months. These intermediate corrections generally retrace between one-third and two-thirds of the previous trend movement and most frequently about half, or 50%, of the previous move." Currently, being at the .618 level is "two-thirds of the previous trend movement". In other words, close under .135 for consecutive days and we go to retest the recent lows. Consider the above from Dow Theory, and look where we retraced to on the Fib - Exactly .5 or "most frequently about half, or 50%, of the previous move." again suggested we are continuing the trend downward furthermore reinforcing the importance of holding .135 Now take a look at the OBV indicator as it foretold the recent FDA non-approval dump. Clear Bearish Divergence showing weakened buying on the move up between 16 August to 19 September. To gain some trust in the indicator for readers, I've highlighted a period between 11 Oct 22, and 3 Feb 23 where price created a new low - .059 to .055 however OBV showed a clear Bullish Divergence showing 'Smart Money' were increasing their buying during that period. Finally, continuing with OBV - take a look at the below, we have lost previous support and come back and tested it as resistance. The equivalent buying that is going on now is as low it was back in Feb-March this year when we traded between .075 and .08 Take from this what you will however as outlined in my prior post on Botanix, I don't see the stock re-rating to high-teens, low-twenties and sitting there until official FDA approval.
ASX:BOT
by mr5neak
2
Botanix: Dead Cat Bounce?Recent events have caused what was a 'guaranteed' FDA approval price-pump to fall 40+% at their low (so far) with FDA requiring additional 'Patient Instruction update'. I'm looking for a short term move back to .14-.15 on bullish divergence, bearing in mind there's a much larger hidden bearish divergence occurring simultaneously. I don't believe we breach .15 and feel that we will reject again heading back to test .115 with likely lower prices to come. Should the price go north of .14-.15 I'm taking profit around .165 at the latest as I anticipate that's where sellers will step in again. While sentiment on the company remains relatively positive, it's wise to remember the stock closed January at .058 before heading on a 262% increase at it's peak in September. We're looking at a revised approval date for Botanix's lead product Sofpironium Bromide of mid-2024; still some eight months away. It feels naïve of me to expect the stock to not go lower first and that it will somehow hold it's recent lows before heading North to the .16-.20 and wait there for eight months.
ASX:BOT
by mr5neak
1
ASX Top 10 Momentum Stocks: 21 August 2023 - Finer Market PointsASX:LDX ASX:LU7 FWB:LLI ASX:WC8 ASX:AW1 NYSE:ROG ASX:BOT ASX:GCY NYSE:ARL ASX:IR1 Momentum leading shares are the market's best performers today. They are the fastest-growing shares on the ASX over the last 90 days. These companies can't get to be leaders without first appearing on our Launch Pad list. The Launch Pad List is published weekly through our Friday video on our YT channel. Today's ASX's Top 10 Quarterly Momentum Stocks are: Lumos Diagnostics Holdings Limited (LDX): Lumos Diagnostics engages in the development and manufacture of point-of-care (POC) diagnostics solutions to help healthcare professionals more accurately diagnose and manage medical conditions. LU7 Lithium Universe Ltd: LU7 Lithium Universe Ltd is a Lithium miner with recent corporate restructuring. (August 2023) Loyal Lithium Limited (LLI): Loyal Lithium Ltd is a battery metals miner with a controlling stake in the Hidden Lake Lithium Project in Yellowknife, Northern Territories of Canada, through a joint venture with Patriot Battery Metals, also listed on the ASX. Wildcat Resources Limited (WC8): Wildcat Resources is a WA and NSW gold explorer with exposure to lithium, caesium, tantalum, nickel, and copper as well. American West Metals Limited (AW1): American West Metals Limited is a copper-focused miner in North America. They have the Storm Copper Project in Nunavut, Canada, and the zinc-copper-indium deposit at West Desert and Copper Warrior Project in Utah, USA. Red Sky Energy Limited (ROG): Red Sky Energy Limited is an Australian oil and gas exploration company with a focus on acquiring and developing conventional oil and gas assets. Botanix Pharmaceuticals Ltd (BOT): Botanix Pharmaceuticals Ltd is a medical dermatology company, engaged in the development of cannabinoid-based products for the treatment of skin diseases. Gascoyne Resources Limited (GCY): has their flagship Dalgaranga Gold Project in WA that was placed on care and maintenance in Q4 2022 including its modern 2.5Mtpa processing plant, surface infrastructure, and resource base. Now (July 23) GCY is focusing on the Never Never discovery, located less than 1km from the processing plant. Ardea Resources Limited (ARL): Ardea Resources Ltd is a mineral exploration and development company focused on nickel, cobalt, and gold projects in Western Australia. Iris Metals Limited (IR1): Iris Metals Limited is a hard rock Lithium miner in South Dakota USA as well as gold, nickel, and lithium in Western Australia.
ASX:BOT
by ch886
ASX Top 10 Momentum Stocks: 15 August 2023 - Finer Market PointsASX:AW1 ASX:WC8 ASX:LDX ASX:AZS ASX:RDX ASX:BOT FWB:CCX NASDAQ:LNW ASX:IR1 NASDAQ:NXL Momentum leading shares are the market's best performers today. They are the fastest-growing shares on the ASX over the last 90 days. These companies can't get to be leaders without first appearing on our Launch Pad list. The Launch Pad List is published weekly through our Friday video on our YT channel. Today's ASX's Top 10 Quarterly Momentum Stocks are: Americanwestmetals (AW1): American West Metals Limited is a copper-focused miner in North America. They have the Storm Copper Project in Nunavut, Canada, and the zinc-copper-indium deposit at West Desert and Copper Warrior Project in Utah, USA. Wildcat Resources (WC8): Wildcat Resources is a WA and NSW gold explorer with exposure to lithium, caesium, tantalum, nickel, and copper as well. Lumos Diagnostics (LDX): Lumos Diagnostics engages in the development and manufacture of point-of-care (POC) diagnostics solutions to help healthcare professionals more accurately diagnose and manage medical conditions. Azure Minerals (AZS): Azure Minerals is a mining company that explores and develops mineral deposits, with a focus on lithium and nickel in Western Australia. Redox Limited (RDX): Redox Limited is a global chemical, ingredient, and raw material distributor active in more than 1000 specialty and commodity products. Botanix Pharmaceuticals Ltd (BOT): Botanix Pharmaceuticals Ltd is a medical dermatology company, engaged in the development of cannabinoid-based products for the treatment of skin diseases. City Chic Collective (CCX): City Chic Collective Ltd. engages in the retailing of women's clothing in Australia, New Zealand, South Africa, and the U.S. through various brands. Light & Wonder Inc. (LNW): Iris Metals Limited (IR1): Iris Metals Limited is a hard rock Lithium miner in South Dakota, USA, as well as gold, nickel, and lithium in Western Australia. Nuix Limited (NXL): Nuix Limited specialises in developing a software platform designed to process unstructured data. Its platform caters to various areas, such as criminal investigations, financial crime, litigation support, employee and insider investigations, legal eDiscovery, data protection and privacy, and data governance and regulatory compliance. Based in Sydney.
ASX:BOT
by ch886
Botanix Bullish Channel to Continue?Botanix Pharmaceuticals Ltd (ASX:BOT) is a clinical stage cannabinoid therapeutics company. The company focus is the development of safe and effective topical treatments for serious skin conditions. It has an exclusive license to use a proprietary drug delivery system - Permetrex for direct skin delivery of active pharmaceuticals in all skin diseases. The company's product pipeline includes BTX1503 - Moderate to Severe Acne, BTX1308 - Plaque Psoriasis, BTX1204 - Atopic Dermatitis, and BTX 1701 - Mild Acne. Since posting my last idea on the 16th JAN, I thought since we are at another critical level to revisit the Idea and look at 3 posible forecasts. 1. Bullish - Respect Upward Channel - MACD weak and anticipating Bullish Cross - RSI Trending Bullish towards the 50.00 Level - TB Fib Extension level 1.618 aligning with upper band of Channel NOTE: price will need to see some Strong Volume and Bullish movement to break through the Ichimoku Cloud internal of the channel (could we be so lucky to receive an announcement worthy?) 2. Bullish off Daily Support (EQ) - If price is to break Uptrend Channel then a fall to Daily Equilibrium (Support) is likely. RSI is still below the Bullish 50.00 and MACD yet to cross Bullish. Price would also have to break through the Bearish ichimoku cloud that is identified. I think that lack of news and investment frustration could see price fall before a potential Double/Triple Bottom. 3. Bearish - Break of Upward Channel - Break of Daily Support - TB Fib Extension Targets aligning with key levels of Support - RSI would break uptrend - MACD would spread and continue Bearish NOTE: If price manages to fall below Daily Support then I would expect opportunistic buying at former levels of support before reversal. The "boys" holding this down are getting weaker and starting to sweat IMO GLTAH Disclosure: Held, Sentiment: Buy "DISCLAIMER: NO ADVICE. The information presented here is general in nature and is for education purposes only. Nothing should be considered to be advice. You should consult with an appropriate professional for specific advice tailored to your situation."
ASX:BOTLong
by Trader_Johnni
1
Botanix: Strength to StrengthBotanix Pharmaceuticals Ltd (ASX:BOT) is a clinical stage cannabinoid therapeutics company. The company focus is the development of safe and effective topical treatments for serious skin conditions. It has an exclusive license to use a proprietary drug delivery system - Permetrex for direct skin delivery of active pharmaceuticals in all skin diseases. The company's product pipeline includes BTX1503 - Moderate to Severe Acne, BTX1308 - Plaque Psoriasis, BTX1204 - Atopic Dermatitis, and BTX 1701 - Mild Acne. Bullish Outlook: - Trending Bullish within Upward Channel - Double Bottom off Support - RSI not Overbought - TB Fib Targets Achievable - Positive news should see this continue trend Trading. "DISCLAIMER: NO ADVICE. The information presented here is general in nature and is for education purposes only. Nothing should be considered to be advice. You should consult with an appropriate professional for specific advice tailored to your situation."
ASX:BOTLong
by Trader_Johnni
BOT Ready to GAP(ASX:BOT) Botanix Pharmaceuticals Limited is a clinical stage synthetic cannabinoid company based in Perth (Australia) and Philadelphia (USA) committed to the development of pharmaceutical products that are underpinned by science and supported by well-controlled randomised clinical trials. Technicals: Shaping up to GAP - Ascending Triangle Pattern - 10/20 MA Golden Cross - RSI Bullish + Above the 50 - MACD Bullish and Spread - Fractal Target 1 lining up with Previou EQ and 0.236 Fib Retracement @ 0.081 - Fractal Target 2 close to another Resistance level @ 0.095 - GAPs Present @ 0.14 - 0.234, 0.027 - 0.029, 0.034 - 0.037 - "Golden Pocket" 0.5-.618 Fib Retracement sitting within 0.14 - 0.234 GAP - Stop loose @ 0.042 Fundamentals: Undervalued, Debt Free, +$20 Million Cash - Multiple Phase 2 Clinical Trials underway with FDA Meetings successful for there Cannabinoid Products. - Antimicrobial Study Phase 2 to be completed 4th Quarter 2020 - World Class Board of Directors & Advisors with Key Experience in Management, Research & Development, FDA Approvals, Pharmaceuticals, Therapeuticals - Debt Free with $24.6 Million in Cash and Investments - Total Liabilities of $1.37 Million covered by $24.7 Million in Assets Technically and Fundamentally this is shaping up to be a great Trade & Long term Investment. My only Concern is how the effects of COVD19 will weigh on the Therapeutic/ Pharmaceutical Industry. Definitely a Sector and Company to keep watch of. Setups/Strategies should be based on Individual Trade/ Risk Management Plan These Ideas are NOT 'Financial Advice'!. Scenarios are based off a mixture of TA and Fundamentals current at the time. All IMO GLTAH. Happy Hunting!!!
ASX:BOTLong
by Trader_Johnni
7
$BOT - BOTANIX PHARMA - Buyer and Sellers Showdown.BOT is starting to look interesting again but a big stand off between buyers and sellers both pretty evenly matched at current price points. Its broken past it end of last year flat patch and bounced off a retest of it. If it breaks up there is quite a bit of room it could run so will keep it on the watch list for now and watch for the break of resistance. Its financials etc are terrible so only looking to ride it while it runs. Botanix Pharmaceuticals Limited, formerly Bone Medical Limited, is a pharmaceutical company. The Company focuses on developing medical dermatology products for dermatologists and their patients. Its segments include Research & Development and Corporate. The Company's products and pipeline products are all based on drug delivery technology known as Permetrex, which helps solve the challenge of delivering active pharmaceutical ingredients across the skin. The Company's products, which are under development, are focused on modulating the body's endocannabinoid system of receptors which regulates skin function, growth and renewal. Its product pipeline includes BTX1503, BTX1308 and BTX1204. Its BTX1503 is a transdermal gel formulation used for the treatment of serious acne in adults and teenagers. Its BTX1308 is a transdermal gel formulation used for the treatment of plaque psoriasis. Its BTX1204 is a transdermal gel formation used for the treatment of atopic dermititis.
ASX:BOTLong
by zAngus
3