Hi, I found this stock interesting while it was on the peak high I heard about it but now I checked the stocks and I found this one interesting for at least a year time hold on to it. I need your idea if you know technical analysis good love to know your thoughts. thanks.
Wedge pattern awaiting breakout for a upswing trade. 3:1 reward:risk ratio.
RSI and Stochastic looking good.
Will trail stop loss and look at TP at the 1.61 extension depending on volume.
Results will be announced during June 2020. At the final day in June the lower trendline is at $4.00 and the upper trendline is at $5.00.
Goldman Sachs currently value OPT at $5.20. The have placed OPT on their "Conviction Buy" list.
Long. Very long.
Me and plenty of others were looking for this move today. How can I tell? the volume on the trendline break. See what happens from here. Bio so beware.
Looks to have finally broken through a previous strong area of resistance with the announcement of moving their trial results forward. I like the biopharmaceutical space and anything to do with eye disease and diabetes would seem to be a good medium to long term opportunity. Might be worth a watch.
Opthea Limited (ASX:OPT), is a clinical stage biopharmaceutical...
