Photocure $PHO.OL attempts breakout over 50SMA on Cysview newsPhotocure $PHO.OL stock reacted with a correction after a overblown rally ahead of Q4 2018 report, but found firm footing and looks set to restart positive trend.
PHO trade ideas
Photocure stock in correction after Q4 2018 report - time to buyAs mentioned in an earlier Idea ( ), the Q4 report represented a substantial risk for a downwards reaction after a recent surge in the share price.
At the new price level around NOK 41 the stock is much more attractively priced, and this could be the time to move in for new investors.
Photocure $PHO.OL stock rally ahead of Q4 report - One to watchPhotocure stock reacted with a heavy (overdone?) correction after the Q3 report, but has recovered nicely in later weeks.
As mentioned in an earlier TradingView analysis ( ), NOK 36 and downwards presented a very good buying opportunity, which culminated when the correction bottomed at NOK 32,5 which was a very solid resistance upwards for a long time.
Entry at these levels should probably be done with a keen eye on risk management and new investors may want to wait for the soon to come Q4 2018 report before making a move, but the long term uptrend looks promising, and at a valuation of only 113 million USD this Norwegian microcap could go a long way yet.
Quoting Pengana capital about their position in Photocure:
"Photocure has a current market capitalisation of USD $130 million and we estimate 2018 revenue of USD $25 million which is small compared to the potential US market opportunity valued at $1.3 billion. The company has also had great success in selling its product in Europe, with an 80% penetration in bladder surgery procedures in Scandinavia followed by 30% in Germany."
www.raskmedia.com.au
photocure Trading ideasphotocure correction still in progress, buy this stock when the price get to the buy zone.
