I think Novan Inc (NASDAQ:NOVN) will post a sharp rally from current levels. This was a $20 stock in June and at $8.14, in my opinion, there is a compelling risk/reward scenario. The risk is the stock continues to fall, the reward is a swift 30-50% type move for this oversold stock. Analysts price targets are very high compared to current prices.
Pupm&Dump trading strategy idea.
$NOVN is rising too much today.
The demand for shares of the company looks lower than the supply.
This and other conditions can cause a fall in the share price today.
So I opened a short position from $10,18;
stop-loss — $10,72;
take-profit — $9,12.
Do not view this idea as a recommendation for trading or investing. It is...
*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management*
My team has been paying close attention to the price action of biotech...
-Investors are responding positively to the company announcing positive topline efficacy and safety results for the B-SIMPLE4 pivotal Phase 3 clinical study of SB206, a topical antiviral gel, for the treatment of molluscum contagiosum.
-Molluscum is known as a common contagious skin infection caused by the molluscipoxvirus, affecting about 6 million people in the...
Our ABML Play seems to be working out so far. Here is another Gem that could work our similar. I love cheap stocks.
NOVN is a clinical development-stage biotechnology company, which focuses on the development and commercialization of nitric oxide-based therapies to treat dermatological and oncovirus-mediated diseases.
Checking Wallstreetzen, it appears to be...
Disclaimer: I do own a position and you may want to do your own DD, since this post maybe bias even if its not. Please do your own research.
Novan is a pennystock biotech that picked up steam last fall like many pennystocks, but through out 2021 stocks have been getting hit with biotech and pennystocks/low caps being the worst hit sectors. Cathie Woods states in...
Novan INC, today announced the election of Steven D. Skolsky to its Board of Directors. Mr. Skolsky is a well-established senior executive with over 35 years of experience in healthcare and the life sciences in both private and public sectors. Over the course of his career, he has amassed expertise spanning all facets of the biopharmaceutical and healthcare...
Bullish Flag
Pros:
Descending volume during formation
Volume increase at break out
Golden cross in blue
PPS above 50MA and 200MA
RS above 0, and ascending
ATR Ascending
R/R ratio above 5
200MA ascending
250RSI above 50
PT = 3.15$
Novan, Inc. is a biotechnology company, which engages in leveraging nitric oxide’s natural antiviral and immunomodulatory mechanisms of action to treat dermatological and oncovirus-mediated diseases. Its products pipeline includes SB204, SB206, SB208, and SB414. The company was founded by Mark Schoenfisch and Nathan Stasko in 2006 and is headquartered in Durham, NC.
NASDAQ
