ACST is now in the spotlight
Updated
So today I sold my NCLH and Bitcoin and went into ACST or Acasti Pharma. We made nice gains with NCLH with a killer premarket but leveled off back under closed, but than exploded 6% and going even higher after I sold at 11.22 with my buy at 9.88. Bitcoin has been bouncing between 1-2%, which had nice support at the emas this morning. is why ACST also caught my eye.
How did i hear about ACST well someone brought up that Amarin or AMRN open 60% down with ending in a 70% lose today and ACST is its competitor, with it being in penny stock territory.
ACST also has gone to the FDA planning on getting in meetings to move on with their drug, I think Its CaPre which is "CaPre is intended to be used as a therapy in conjunction with positive lifestyle changes including diet, and is to be administered either alone or with other drug treatment regimens such as statins (a class of drug used to reduce cholesterol levels). " Which this market is a 50billion dollars with this stock being about 35million dollars valuation with the company owning about 90million and public owning about 70million shares. With their drug ending its testing phase its now up to ACST to work with the FDA, which could happen anytime between now or in 70days is how long till a respose will take for the FDA. There is a high chance it will get approve from many spectators.
Now technicals
-AMRN got hit hard, yet ACST hasn't moved much but its penny stock.
-From its low to now its up about 49%, yet from were its been trading at the 2.30ish is down 82%, so hugh upside with a 450% gain back to original trading range with it going higher as of $3 before the sell preasure hit. ($3 was the original target from what I read with a target in the $8 range if the FDA approves of the drug)
-MACD on the hourly is bearish
-Volume is very low which we could expect a big move soon
-RSI is heading towards overbought, yet its netural to me
-So far on active hours and premarket its holding the 50ema on the hourly, yet we would need a break above the others. maintaining above the the 50ema is always a bullish sign, yet it will need to hold and see upward price movement.
I'm a long buyer just cause the price is near its lowest even though it could go lower, yet I don't see much more room to drop with the marketcap. We would have to wait till premarket tonight for this stock and hopefully its bullish.
How did i hear about ACST well someone brought up that Amarin or AMRN open 60% down with ending in a 70% lose today and ACST is its competitor, with it being in penny stock territory.
ACST also has gone to the FDA planning on getting in meetings to move on with their drug, I think Its CaPre which is "CaPre is intended to be used as a therapy in conjunction with positive lifestyle changes including diet, and is to be administered either alone or with other drug treatment regimens such as statins (a class of drug used to reduce cholesterol levels). " Which this market is a 50billion dollars with this stock being about 35million dollars valuation with the company owning about 90million and public owning about 70million shares. With their drug ending its testing phase its now up to ACST to work with the FDA, which could happen anytime between now or in 70days is how long till a respose will take for the FDA. There is a high chance it will get approve from many spectators.
Now technicals
-AMRN got hit hard, yet ACST hasn't moved much but its penny stock.
-From its low to now its up about 49%, yet from were its been trading at the 2.30ish is down 82%, so hugh upside with a 450% gain back to original trading range with it going higher as of $3 before the sell preasure hit. ($3 was the original target from what I read with a target in the $8 range if the FDA approves of the drug)
-MACD on the hourly is bearish
-Volume is very low which we could expect a big move soon
-RSI is heading towards overbought, yet its netural to me
-So far on active hours and premarket its holding the 50ema on the hourly, yet we would need a break above the others. maintaining above the the 50ema is always a bullish sign, yet it will need to hold and see upward price movement.
I'm a long buyer just cause the price is near its lowest even though it could go lower, yet I don't see much more room to drop with the marketcap. We would have to wait till premarket tonight for this stock and hopefully its bullish.
Note
Heres where you can watch premarket and afterhoursmarketwatch.com/investing/stock/acst
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