SBTX Penny Biopharma on ROUNDED BOTTOM REVERSAL - Daily Chart
NASDAQ:SBTX
with upcoming earnings
chart shows
s
- upport and resistance from pivots
ascending higher highs and higher lows
support /resistance from long-term volume profile
early reversal after May 13th earnings
uptrending EMA ribbon
pull back within the uptrend 7/15-7/27
rising relative volume since May 13th earnings
The potential red flag is the company seems to be
setting up for a merger at the end of the year
and a press release suggests that the only product
will be a decongestant nose spray ( Niffy)
with a new ticker SPRY
So the question is trade off the curent techicals
but pay heed to fundamentals and upcoming guidance
from earnings ? What is your opinion ?
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