$EYEG Target 2.90 for 44% Eyegate Pharmaceuticals (EYEG) said Wednesday it has completed its target enrollment of 21 patients in a mid-stage proof-of-concept study of PP-001 for ocular surface inflammation due to ocular surface diseases, including dry eye.
Topline data from the study are expected to be released in Q4, with an investigational new drug filing in the same quarter.
Target : $ 2.9
EYEG trade ideas
EYEG Wedge Breakout + MACD CrossPrice consolidating atop the 200 SMA, and recently the 50 SMA. MACD bull cross, and RSI finding strong support on top of the 50 EMA of the RSI convey upside momentum bias (I find the 50 EMA on the 14 RSI to be very informative, I recommend you try it for yourself). I am looking for price to stay supported by 5 day SMA and I will look to buy the wedge breakout to the upside. The $4.80 level that has been local support is also a .786 retracement of the move off the Aug '19 lows to the Dec '19 highs. As usual, try to get in on the post breakout pullback but if volume is strong I'll probably just jump in. Minimum target is $6.50, an area I think is key resistance although the measured target given the size of the wedge is +$8.00.
70% profit target EYEGChart is starting to flip bullish on support at LTF's. Will be buying my way down and expecting this gap to close. A little more risk than I normally like to try (8-10%) but 70% run up looking nice and we're seeing lots of tech/bio stock boom lately.
Check my page for a handful of other 50+ % runups Ive charted in the past month. It's gonna be a good month lets get it
Short the popEven with the fear of biotech companies flying high when they have successful trials, I like the short today. This is a preliminary study that provided very positive news, however the long term price deterioration of the stock points to a pullback and setbacks. This is speculative, thus good luck trading! Great open if you were long!
EYEG - swing idea momentum gap playEYEG had news today so this helped the stock gain visibilty and momentum finance.yahoo.com
RISK / REWARD swing idea and gap play
Analysis:
RSI is at 53 (not oversold) but is in the area of accumulation.
MACD is moving in positive area
Gap Zone hasn't been filled completely
Daytrade idea: over .45 (confirm volume, RSI and Money Flow index)
Swing Entry: .35-.39 near support or lows of the day candle (orange color)
Stop Loss: .3-5c below the support line (red color)
Price target is the Green Color which is the resistance zone (I would take some profits and move my stop loss)
Purple Color is resistance and GAP zone area.
Good Luck and remember to honor your stops.
EYEG Pending BreakoutRelative strength index (RSI-14) for Eyegate Pharmaceuticals, Inc. (EYEG) is at 35.36.
Stock price escalated 6.42% to finalize at $0.58 throughout previous buying and selling session.
EYEG is trading -79.65% downward from the 52-week high mark and 17.24% above from the fifty two-week low mark.
EYEGEyeGate Pharmaceuticals Inc. (EYEG) had the misfortune of entering into a worldwide licensing agreement with Valeant Pharmaceuticals International Inc. (VRX) in July 2015, just before scandal rocked the blue chip drug manufacturer. It hit an all-time high at $35 after the news and then plummeted, dropping back into single digits in August. The stock posted lower lows into November 2016 and gapped up on heavy volume on Feb. 21 after renewing that agreement. It should fare better this time around, heading toward an upside target between $5.00 and $8.00.