DMPI (Delmar Pharma) has increased about 40% on a bullish break out. A bull flag has formed after a break out from a large wedge pattern with good volume. Looks like a strong bottom at .80. News was released yesterday that their drug VAL is being "fast tracked" this brings grant money payed by the govt. Looking for a continued bullish trend and news coming from...
The negative news will drag it down (give or take 40%). I think the news will be positive. My swing position will be no more than 1-2K.
Remember to set a target and take the profit when you swing or day trade.
DMPI has broken resistance on positive interim results of its clinical cancer drug, VAL-083. Analyst have a price target of $12. Bullish price action on trend analysis, chart patterns, and shorts covering.
Upside move and a break of the 50 day EMA after hours. Entry over $1.02 targeting $1.30 first and on the break of $1.40 new target will be $1.80. Support @ $0.82 could be a spot for a stop.
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$DMPI has several fundamental recent catalysts, by the time of writing this post it's gapping 40% with some volume.
The stock has fallen about 65% YTD. I'm watching the stock for a spike today or within next few days.
The trade Idea is to see it getting supported around 1.50 with volumes then breaking above 1.67, the targets might be 2,...