Very similar to the INVO play i posted last week.
Another very overextended gap down on some bad news caused a panic sell off. These are my favorite setups I think believe the risk to reward ratio are some of the highest on these setups.
I'm looking to get in really at any price around todays close of $7.11. as long as it holds support at around 7, i think this is getting ready for the next leg up which would be to retest and hopefully break the $9.50 mark.
With my price target above 15, this is a YOLO type swing for me where I'm risking quite a bit (stop loss is around $5.00) but the reward is so much greater.
With this in mind I will be scaling back on size for this trade, and give it time to play out.
I'm hoping to hit price target by the summer at the latest, when they announce their q1 results from their clinical trials.
Goodluck Traders! Please let me know your thoughts on this trade below!
Another very overextended gap down on some bad news caused a panic sell off. These are my favorite setups I think believe the risk to reward ratio are some of the highest on these setups.
I'm looking to get in really at any price around todays close of $7.11. as long as it holds support at around 7, i think this is getting ready for the next leg up which would be to retest and hopefully break the $9.50 mark.
With my price target above 15, this is a YOLO type swing for me where I'm risking quite a bit (stop loss is around $5.00) but the reward is so much greater.
With this in mind I will be scaling back on size for this trade, and give it time to play out.
I'm hoping to hit price target by the summer at the latest, when they announce their q1 results from their clinical trials.
Goodluck Traders! Please let me know your thoughts on this trade below!
Note
Technically i should be stopped out of this trade, however i have kept my position open as i still believe in my thesis, and i contribute a lot of the recent sell off to the market conditions last week when there was finally some fear in the market (major indices were pushing into correction territory- Nasdaq actually reached this, and the VIX/VVIX finally waking up)
Patently watching to see this gap fill to the upside. 15 is my initial target still with 17.49 being the top of the range.
I think this needs some news to come out to get some attention on the company, I honestly think the ones accumulating at these price levels will be rewarded within the year when this reverts back to the mean.
Note
a lttle late to this, but i sold this on the big pop in Mid June. Averaged down once since the inital trade in Feb, which brought my total profit at 21.3%
This was tough to hold throughout the year, i still think its severly undervalued but i will be sitting on the sidelines until some catalist is announced.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.