15% off all time highs.
A Minervini VCP looking setup.
4 month base setting higher highs and higher lows with price contraction into its breakout point. Expecting this to go next week or the week after.
Setup: PowerPlay
VCP: 3W 29/7 3T
RS: 99
The posted chart contains a VCP (volatility contraction pattern). The first label "W" stands for weekly and shows the duration of the entire consolidation. In the middle label, the percentage of contractions is indicated (for example, "15/4"), with 15 representing the -15% depth of the base and 4 representing -4% of the...
IMVT broke out of its trading channel on a big upgrade from Wells Fargo. Normally I could care less about upgrades but nice when it happens to your favorite stock.
This is a Power Play (High tight flag) setup.
We had advancement of +150% and Correction of -15%
Relative Strength is outperforming the market
Volume is mostly bullish
Bought on 28OCT and added on 31OCT
Formed a Cup and Handle Base on top of the Power Play
IMVT- Break of 9.76, Stop signal 8.43, Target 1 12.43, Target 2 13.93 - Insider buying in October and late September from 3 insiders, small %'s though but reasonable $'s
On 8/13/2021 Chardan Capital brokerage Lowered the Price Target for the Buy rating from $55.00 to $22.00
On 8/10/2021 HC Wainwright brokerage Reiterated Rating to Buy and a Price Target of $19.00
My price target is the strong 14.5usd resistance.
Short Float 12.76%
52 Week Range 6.68 - 53.75
Now the price is 8.95usd
Immunovant Inc is a clinical-stage biopharmaceutical company. It is focused on enabling normal lives for patients with autoimmune diseases. The company's product includes IMVT-1401 targets the neonatal Fc receptor (FcRn).
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$IMVT Target 26.48 for 52.18%
Or next add level is at 8.32
I LOVE a good earnings over-reaction. I doubles my position at 11.87... new target set...
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On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average.
I start every position with 1% of my account and build from...
Immunovant Inc offers at least 75% upside in the $16 range as of March 24, 2021.
Weaknesses
Stumble in most recent trial for treatment of autoimmune disorder Thyroid Eye Disease (Graves' Ophthalmopathy)
General and administrative expenses nearly doubled from $6.10M to $10.50M from Q42019 to Q42020*
Net loss of $79.30M for the 9 months ending December...
Immunovant Inc is a clinical-stage biopharmaceutical company. It is focused on enabling normal lives for patients with autoimmune diseases. The company's product includes IMVT-1401 targets the neonatal Fc receptor (FcRn).
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Based on my fundamental analysis I have set a $35-$40 price target for IMVT. After a steep drop IMVT appears to have found support around $23 which was also supported by very strong volume. With support established at 23, a strong intrinsic valuation, and RSI indicating it is now oversold I believe this could be the start of a new uptrend.
