MGRX Biotechonolgy IPO LONGMGRX a recent IPO produces a med for erectile dysfunction without FDA approval;
They are basically selling a generic version of an approved medication and bypassing
the patent protections and betting they will fly under the regulator radar apparatus.
As might be expeted this recent nano-IPO is highlly volatile. Play with it only
if you have the requisite skills to do so and only with risk capital.
it does the marketing through direct to consumer telehealth services.
>>>>>>>>>>>>>>>>>>See also the link below <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<
On review and analysis on the 30 minute chart, the price action is squeezing
down in a flat bottom triangle likely setting up a breakout upside.
The RSI oscillator shows RSI crossing 50% from below.
Volatility is compressing down inside the triangle for a squeeze set up.
Targets are based on the supply and demand zones of the Luxalgo indicator.
The first parget is the midline between the zones while the final target
is just below the supply zone. As can be seen on the chart, the first target
is about 100% upside while the final target is 200% upside. One of the
position is closed at each target making the return 150% overall.
Stop loss is below the demand zone. A stop loss is 15% yields an overall
reward to risk ration of 10:1.
MGRX
MGRX Biotech Penny Stock Pullback for Continuation LONGMGRX with some FDA news catalyst got a lot of action on the last session of the week.
With the pullback and overwhelming volume during the session, a continuation into
the upcoming week is entirely reasonable. ( see also the link)
MGRX had a last price of about $1.50 about a 50% retracement from the high of the day.
I will take a position at market price in the pre-market opening the week. The
target will be $2.25 or midway between the current price and the high of the last session.
This will represent a 50% Return on Trading Position. I will set a stop loss at $ 1.40
representing a 10% loss. Price at present is sitting on a confluence of support of
both the 20 and 50 HMAs along with the lowermost VWAP band. The reward for risk is 5X.
MGRX does not have options. I expect the long trade to hit the continuation target
in less than 5 days. I will set a buy-stop order to take a position when the price exceeds
$ 1.55 with a stop loss of $0.15 to account for the expected volatility.
