BGBIO possible bottomWe’re not there yet, but the downtrend seems to be exhausted.
Now a break of the downtrend (black arrow) AND the resistance area of NOK 20,50/21,- needs to happen and a potential W-formation is formed (see orange scenario).
BGBIO trade ideas
Just broke significant resistanceWe just broke significant resistance trend line (orange). Met first resistance at emission price at 37,50,-
The breakout has moved us closer to DNBs target at 68,-
BERGENBIO soon to break out?Price currently in a symmetrical triangle, making lower highs and higher lows. Expecting a breakout to the upside, if the price breaks out of the triangle.
Take profit 1: 45.90
Take profit 2: 51.85
Careful! if price breaks below the triangle, do not enter a trade. This stock is in an uptrend, and that's why we are only looking to buy.
BerGenBio trading plan for the next few daysThis is a trading plan based on price action. Keep in mind that BerGenBio will present updates on their current cancer treatment 25th june. This could boost the price extremely, because of the high volatility.
37.15 will be the safest price to enter a possible trade. That's why I am waiting for a pullback before entering.
BGBIO - an intelligent bet on covidBGBIO is a biotech company with focus on cancer treatment.
Like most biotech it is extremely volatile for news, but often fluctuate between key buy and sell zones when no news are evident.
BGBIO is presenting news on their cancer treatment 25th of june.
They are currently first in line to do a free test in ACCORD - the British rushed testing setup for COVID-19
Before news I expect the share to keep bouncing back and forth between the buy zone (established from a large public offering at 37,5 - 50 MUSD) to the sell zone (as seen on TA). BLUE ARROWS
Any movements outside this zone is unlikely before we get more news.
If we do get positive news as to treatment going well, the share could very quickly get an insane pricing (2-3x current price). However, as we have seen from a lot of other companies lately, just starting or finishing test phases without failing = price increase.
I expect such a movement sometime the next two weeks. The CEO has indicated he will let the market know asap when the study starts and I expect that announcement to quickly bounce the price to ~50 NOK before it retraces to the current sell zone. When this happens it will turn into the new buy zone.
1) Go long with a position, you can collect a probable 25% at 50 NOK within 2-4 weeks
2) Play the swing trade between 37-39 and 42-44 with some of your position in the meantime
____________________
3) If for some reason the first phase should not go as planned and their drug will not be suitable for covid, the drug is still very well touted for cancer and has the next potential boost at june 25th
BGBIO / BergenBioBiotech company based i Norway/UK
Listed on OSE
BergenBio`s Bemcentinib now in
UK financed Covid-19 studym, Fast track ACCORD.
Number og study ongoing: 15
3 big:
* ACCORD Covid-19
* Bemcentinib/Keytruda combo whit Merck i NSCLC.
* AML
9 of 15 sponsored studies.
Tecnicaly potent, whit big upside potential. Fair value at the moment 86nok. Archtic Securities.
BerGenBio $BGBIO upgraded target price to 86 NOK from ArcticSecQuote:
"Bemcentinib has shown effect against SARS-CoV-2 (coronavirus) in animal models and has been selected as the first of six drugs to be fast-tracked in the new UK initiative (ACCORD) to enter a phase 2 study directly.
Although there are many uncertainties around valuing this opportunity, we estimate the new indication adds NOK 21/share, with a new TP of NOK 86.
Read-out of the phase 2 study is expected in approx. 6 weeks. Developments will be followed closely."
Source:
www.research-tree.com
BerGenBio SMA50/200 golden cross tests breakout upon new dataABOUT BERGENBIO
OSL:BGBIO
BerGenBio is a clinical-stage oncology company focused on developing transformative drugs targeting AXL as a potential cornerstone of therapy for aggressive diseases, including immune-evasive, therapy resistant cancers.
www.bergenbio.com
www.nordnet.no
Trinity Delta Analysis:
www.trinitydelta.org
BerGenBio $BGBIO.OL rallies amid Norwegian biotech optimismBerGenBio OSL:BGBIO is a norwegian clinical-stage biopharmaceutical company focused on developing transformative drugs targeting AXL as a potential cornerstone of therapy for aggressive diseases, including immune-evasive, therapy resistant cancers.
The stock is currently in a short term uptrend that could provide a new test of important resistance, where a breakout to the upside could trigger a powerful buy signal.
Sponsored analyst summary:
www.trinitydelta.org
Twitter:
twitter.com
Investor Relations:
www.bergenbio.com
Teknisk vurdering av BGBIOOverordnet jobber kursen i en negativ trend, med konsolideringer som er fine å trade.
Pt ligger det et fint RSI brudd i chartet som indikerer videre oppgang, først til den røde trendlinjen dernest toppen av konsoliderings rangen.
Det som taler litt i mot videre oppgang kommende uke, er volumutvikling og en bearish candlestick fra siste børsdag før påske.
