RiskMastery's Breakout Stocks - SPRB EditionWelcome to RiskMastery's Breakout Stocks - Stocks with breakout potential.
In this edition, we'll be looking at NASDAQ:SPRB ...
I believe this code is at a point of potential volatility.
If price can hold above $3.40 ... Bullish potential may be unlocked.
My key upside targets include:
- $5.22 (Conservative)
- $7.16 (Medium)
- $10.41 (Aggressive)
If however price falls below $1.80 ... Bearish risk potential may be unlocked.
(My key risk targets - C, M,& A - are as noted on the chart)
Enjoy, and I look forward to being of further service into the future.
If you'd like to connect, feel free to reach out and comment below.
Mr RM | Risk Mastery
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SPRB trade ideas
SPRBSpruce Biosciences Inc (NASDAQ:SPRB) This small bio cap had a very productive day on Friday as we saw gains of over 100% and based on the technical daily chart I believe it has more room to run. The stock finds an immediate resistance at 5.80 and support at 4.25 followed by 3.89 (EMA50). This stock is an example for my other fav small bio caps CMMB CNTX TNXP INKT It's just a matter of time.
SPRB ReversalThis was brought to my attention by a friend on Stocktwits. It has sold off tremendously in recent months and made an all time low a few days ago at $4.23.
Since then the MACD has crossed and the price has moved up gradually. The RSI is still very oversold at 38. Also
I would like to see a daily candle close above the descending trend line (weekly line) and also I would like to see the 10ema cross the 20 ema to give more confidence to the reversal.
As one of the other posters mentioned the float is very low which could cause parabolic price spikes, In addition theres a fair amount of short interest with 11% of the float currently short.
I will likely take a starter here and add as it moves up.
First target $5.08, $5.61, $6.04 in the short term with a stop at $4.23
SPRB - 7.7M FLOAT - JUST BUY IT All,
Lets look at just RSI along on the WEEKLY. Yes it is below 5. Yes this company has 3 years of cash flow. Yes the avg PT is $30. Yes it's 7.7M float. Yes when news / ER comes out this will moon.
Question is when? Answer I don't care anymore. I'm in... 2 years or 2 days. Do your DD but trust me this isnt a bad company only been on here sicne Dec 2020. Just short sold.
SPRB - 8M FLOAT - WORTH X2-X3 CURRENT PRICEAll,
I am already scaled in big here. I am without a doubt this stock will at least double.
***KEEP IN MIND THIS IS AN 8M FLOAT COMPANY
1. Do your own DD you will notice all that has really happened is low float short sellers have just railed the price down
2. This companies price targets are insane not to mention 8M float will make this EXPLODE on any good news. The company is already undervalued + postiive news of any kind just blows this baby to the moon. Except here the moon is probably where it SHOULD be.
3. Financially speaking easily in great position no chance of offerings
4. Promising company overall
5. This downtrend looks awful, but is purely short sellers and look at the length of the time on market.
This looks like it may happen soon, but either way I will happily add large position scales into this stock and simply wait. I really think at some point even a year from now we see 20+. The question is do you want to chase stocks daily, weekly or scale in. Either way set alers and volume alerts.