>Bio of InflaRX<
2008 - Dutch pharma company founded in Germany
2017 - IPO on NASDAQ with gross proceeds of +$100M
2018 - Second round of funding with +$100M
2019 - Balance sheet shows working capital > $150M
Seems like this company has recently hit a rough patch as far as their scientific studies go, but the financials look rock solid.
This is my first share post. Using this as a swing trade analysis.
1. Stock broke the 50 day MA on May 7th, closing at $42.68
2. Stock Reached 20 RSI on May 20th, closing at $38.41 making a 1st Low of $38.18 with 20 RSI.
3. Stock made a 2nd new low on May 22nd of $37.87, closing at $38.05 with RSI reversing upwards to 30 RSI.
4. Market shows sign of reversal...
After a blah 2018, trading sideways to downward for most of that year, IFRX had a final, sharp captulation move down in December 2018 and then after the last set of sellers threw in the towel, a sharp rally up. From there...2019, we have been in an uptrend. I like the sharp, drastic moves higher and lower...with higher highs and higher lows. With the most...
Wow, this stock has some nice, sharp moves up and down within a nice uptrend that started in 2019. Looks overbought right now, depending on timing...might be a nice swing trade between 43.50 and 41.50. Adding this to my watchlist. Will tweet if/when I enter along with stop loss and profit targets