Looking to keep trending over the medium term. Looks like it is already reversing from the latest correction. From the last earnings and price action, it seems to be a lot more major upside for this stock.
One of the most bullish candlestick trading patterns ive ever seen, in order:
- Correction after first large pump
- Reversal doji
- three green candlesticks with increasing size and almost no shadow
In addition to my previous idea, upside potential is very present.
The increase in buy volume (large volume buys) are stacking into this stock. A purely technical play but the trend+volume leads to the conclusion that a large pump upwards is coming up in the near future (3-6 months)
Break out of a solid bottom formation with high and constant volume. From a technical standpoint the prospect looks very good for continued upward action in the short term
Journey Medical Corporation focuses on the development and commercialization of pharmaceutical products for the treatment of dermatological conditions in the United States. The company's marketed products include Qbrexza, a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Accutane, an oral isotretinoin drug to treat severe...
$Derm HIGH volume along with great float/demand = LONG
Its pasting previous highs and throughout the daily breakouts we have learned it will continue due to demand and volume.
NASDAQ:DERM
DERM has been bouncing off this trendline since April and it doesn't have a reason to fail now with an ER beat which was the first beat in the last. Great Risk / Reward setup here to get back up to 12.00 dollars and if we get that 200 MA break we can shoot back up to 20 dollars easy with FDA approval and more sales number coming in next ER as this...
IV% for DERM options remains very high. I already have sold the 3/16 $25 Puts. I sold a couple more 3/16 $20 Puts. I will look for an opportunity to take partial gains on the $25P to reduce my overall risk exposure.
3/16 $20P @ $2.85
23 Days till expiration
DERM $27.22
D: -.0051
G: .0043
T: -.0011
V: .0008
IV: 245.42% (vs 49.92)
DERM - expect volatility. Overall, bullish outlook. Could have significant swings.
The options are so expensive right now it makes for an optimum to sell. I don't like either a credit call spread or any credit spread in this situation. Simply selling puts seems like the correct strategy.
I've placed a limited order to sell 3/16 $25 puts at $5.6, mid...
DERM made a Fast Ball XRV move lower on Wednesday. The stock appears ready for a test of support at 24.03. We will look for a short-sale opportunity in early trading on Thursday.
NASDAQ:DERM
