AMLX - Pre Catalyst Run up Play with massive GAP!Amylyx Pharmaceuticals Inc is a clinical-stage pharmaceutical company working on developing a novel therapeutic for amyotrophic lateral sclerosis and other neurodegenerative diseases. It has one operating segment which is the business of researching and developing therapeutics for neurodegenerative disorder.
Shares float: 61.87M
Topline Data
16/10/2024 ET
Phase 2 topline data to be presented at ISPAD October 16-19, 2024. Phase 2 first patient dosed April 13, 2023. Phase 2 enrollment completed, noted February 8, 2024. Phase 2 data demonstrated improvements in pancreatic function and glycemic control, as measured by C-peptide and other markers of glucose metabolism, rather than worsening typically expected with disease progression, noted April 10, 2024.
2 more catalysts end of August 2025 and end of December 2025
Huge down gap from $18.00 to $4.50
Breakout and Entry Zone above: $2.60
Action: If the stock breaks above this area with strong volume, it might signal a continuation of the upward trend.
Overall Market Sentiment:
Currently, the market seems to be in a correction phase. It’s crucial to consider this sentiment when making trading decisions.
Resistance Points:
$3.00
$3.90
$4.50
$6.50
$8.50
$10.00
$11.50
$13.00
$15.50
Surpassing these levels could signal a positive trend. Consider taking profits at these stages to realize gains.
Trading Strategy:
Take Profit (TP): Set a target at $6.50 (pre catalyst run up) and if we see a full gap fill set a second one at $18.00 (highly speculative and could take time)
Stop Loss (SL): Set at under $1.70 to mitigate potential losses.
Chart Analysis:
Please refer to the attached chart for detailed analysis of price trends and movements.
Trading Advisory:
Exercise caution and consider market conditions and your own risk tolerance when trading. It's advisable to conduct comprehensive research or consult with a financial advisor before engaging in trading activities.
Disclaimer: This content is for informational purposes only and should not be considered financial advice.
