BioLineRx Ltd.Long
Mean reversion for BLRX
BLRX dumped over 40% yesterday on dilution news, an overreaction from the market imo. Bought the bottom around $0.15 which is way undervalued for what the company has in the pipeline. Company is now cash healthy for a while with $10 million for research. It's trading at $1,49 on the TASE - so heavy arbitrage opportunity for market makers here. Next to that, it has a buy rating and target for 9.00/share - that was pre-dilution, so you know what, let's cut that in half to $4.50 - works for me too.
Buying the blood and targeting a 100 to 500% move for mean reversion.
Buying the blood and targeting a 100 to 500% move for mean reversion.
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Important update on Twitter on 10x Club, a weekly newsletter curated by me containing research & analytics on the crypto market & the amazing opportunities during the bear market - Check my Twitter or website link below:
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.