ALPN and VRTX may merge surge of bullish momentum LONGAlpine is a biotech stock that had an earnings report beating estimates two weeks ago. It
is now reaching for all-time highs. That said, it is burning cash just slowing down the burn.
Both revenue and earnings showed remarkable improvement as compared with the previous
quarter. The bullish momentum of price and volume is obvious on the weeky chart with
the print of a massive bullish engulfing candle. Another earnings report is
due in 4 weeks. In the meanwhile, the news catalyst is VRTX and ALPN may be merging.
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I will take a risky long trade here with a stop loss at 50 and a profit first target
of 80 and the second at 90.
ALPN
AADI - NASDAQ PENNY Biotech pre-earnings LONGAADI has earnings in two day. On the 30 minute chart, it is significantly below the highs of May
and June where it was in a wide ranged consolidation. After that in July price trended down
along the support of the second lower VWAP line into a reversal on August 1 shich also
ascended the VWAP lines. Upcoming earnings are in two days on the 9th. Prior two
earning reports lightly beat the top and bottom lines. This small biotechnology company
is making money unlike many of its cash-burning peers. The zero-lag MAC shows a line
cross under the histogram which flipped red to green as the lines rise. With this confirmation,
I will take a long trade into the earnings. There is no alternative in a call option in this case.
From the chart, targets are 6.9, 6.9, and 8.0 over a stop loss of 5.45. I expect this trade to be
finished in 4 days or less.
ALPN - One Target Hit. Going Again.Alpine Immune Sciences, Inc. is a development-stage pharmaceutical company, which engages in the discovering of protein-based immunotherapies therapies targeting the immune synapse to treat cancer, autoimmune, and inflammatory disorders. It offers Immunotherapy, Immune Synapse, vIgD Platform Technology, and TIP Program. The company was founded in 2015 and is headquartered in Seattle, WA.
SHORT INTEREST
22.54K 08/15/19
P/E Current
-1.86
P/E Ratio (with extraordinary items)
-1.92
Average Recommendation: BUY
Average Target Price: 13.50
