I think we have a good setup here for a long position. Stop loss under last candle.
Another extreme oversold small bio cap. Arca Biopharma Inc (NASDAQ:ABIO) touched a new 52 week low last week and closed at $2.36 a share on Friday. I think now is the time to start trying to catch this knife. Alone this company has more cash ($4 per share) than current market capitalization. Cash and cash equivalents were $58.3 million as of September 30, 2021,...
On this episode of "Between Two Fibs" ABIO once again tested the 618 line plotted after using the recent low as the anchor. This has been a failure point 2 other times in the last few weeks but with a little more afternoon momentum, it will be interesting to see if it can break and hold above it. Other than that, the 786 fib appeared to have acted as lower...
VERY RISKY, VERY LONG TERM INVESTMENT in Penny Stocks!!! Not a financial advice! Buy - 3.50 TP - Sell limit at 21$ (2/3 of shares purchased) 1/3 - if go more up. Good Luck!
$ABIO next days we will see if tp could be 19$ in august
ARCA biopharma Inc is a biopharmaceutical company. It applies precision medicine approach to develop genetically targeted therapies for cardiovascular diseases. The firm's lead product candidate is Gencaro. The company adopts genotype-directed comparative effectiveness trial of Bucindolol and Toprol-XL for prevention of symptomatic atrial fibrillation in patients...
ARCA biopharma, Inc. is a biopharmaceutical company, which develops genetically targeted therapies for heart failure and other cardiovascular diseases. The company engages in cardiovascular pathophysiology, molecular genetics and clinical development. Its product candidate, Gencaro is a pharmacologic beta-blocker and mild vasodilator, which is developed for the...
Abio whilst currently tumbling down pyramid slope has no dilution risk with sufficient cash on hand to last a while based on current cash burn and has plenty catalysts. Geometric structure is very supportive of a move to $12 at minimum and more likely $24
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The company is a very small market cap so it's considerably higher risk than most stocks. Stocks like these require very small positions.
First off, please don't take anything I say as financial advice and as always everything is on an opinion based basis. Pursue your own due diligence. That being said, ABIO seems to have a decent setup for potentially another bull run quite soon. The resistance curve is about to pop and it looks like this is a close watch as with other stocks I been watching. In my...