Biotech
Build Positions in BiotechAs the month of October begins and broader markets sold off, Biotech sectors are still negative/ flat for the year. Market headlines from high prescription drug prices and lawsuits regarding the opioid epidemic have plagued some of the IBB's largest holdings; which have held biotech ETF's down while the S&P reached all time highs.
Fast-Track Synopsis:
Biotech is a known high volatility trading environment;
More Investors will become "Traders" with new $0 trading fee platforms from Schwab and TD Ameritrade.
Once people begin trading stocks, they will find that high volatility is how the "big" day-trade/ swing trading money is made.
New Med-tech and Biotechnology therapies (i.e. gene therapies, NASH/ NAFLD) are ripening and getting closer to approval.
There are currently over 240 biotechnology companies with Gene therapy IP
IP has been growing with RMAT and Breakthrough Designations due to unmet need of new novel treatments;
As Biotech rolls into year-end, lower interest rates will propel company growth models which I believe will help drive buy outs.
LABU Technical Analysis:
Bullish Harmonic Gartley pattern and close to 52-week low.
1-year Gartley pattern should move LABU stock price back up to around $40 level (resistance) where we will be watching for a potential breakout
CCI measured "oversold" with the end of September pullback, CCI-slope is now trending higher,
This last pullback also measures a double bottom (data points are from Christmas 2018 and present)
Intra-day bullish RSI divergence, Daily RSI trending higher;
the MS Signal recently flipped green as of 10/1/2019 and is still indicating a nice swing opportunity to come.
Three-drives pattern bouncing toward resistance concurrent with double bottom and Gartley pattern.
Look for the support level (marked (x)) to hold.
See conclusion here !
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Disclosure: I do not own LABU, I may buy or sell within the next 48 hours. This is not a recommendation to buy or sell. Please do your homework before investing.
$LXRX Fill The Gap And Go Or Will It Breakdown?LXRX is a penny stock that has performed well over the last few weeks but looking at the chart, shares are trading within the gap zone. Volume this week compared to previous weeks is lower. Is that a concern or just a slow week?
"Shares of LXRX stock have been on a tear for around a month. This was ever since terminating its partnership agreement with Sanofi. The termination gave Lexicon full control over its diabetes product Zynquista and in addition to that, Sanofi is going to pay the company as much as $260 million as a parting shot...The company will be conducting poster presentations of its XERMELO therapy this week at the North American Neuroendocrine Tumor Society Annual Multidisciplinary NET Medical Symposium." *
About LXRX
Lexicon Pharmaceuticals is a biopharmaceutical company that uses mouse genetics to discover the function of genes and find promising drug targets. Lexicon then designs and develops drugs for these targets, which cover a broad spectrum of therapeutic areas. Following a restructuring in January 2014, Lexicon focused efforts on two drugs: sotagliflozin in diabetes, which is partnered with Sanofi, and Xermelo (telotristat etiprate) in carcinoid syndrome, which is partnered with Ipsen outside the U.S. Early-stage programs include SGLT1 inhibitor LX2761 and neuropathic pain drug LX9211.
*SOURCE: Are Penny Stocks Worth It? 3 Up Big In October
LABU - watch the volume and trend lineBiotech has had a hard time of it lately due to both political risks related to the election and litigation risks from the opioid epidemic. All of this, of course, on top of broad market weakness due to the China trade war.
However, biotech earnings are better than most sectors this season, so the bear market likely won't continue forever. I've drawn a trend line on my 1-hour chart and am watching for an upward breakout. Today we had some nice volume come in as we recovered from oversold on the daily chart and achieved our first green day for some time. However, we fell short of the minimum 6 million shares I'd like to see to signify a true reversal. We also fell short of breaking my trend line.
I expect LABU will fall to about 25.50 before it's likely to get a real bounce.
#VolatilityWatch - $RGNX Upcoming data + Technical SetupThis year has been full of positive catalysts for RGNX. As RGNX continues to build out their clinical pipeline, data catalyst from upcoming phase 2a report on their Wet-AMD gene therapy product could send the stock roaring higher. RGNX is set to report data Oct. 13, 2019 and the companies technical setup is quite nice. The Wet-AMD market is a lucrative opportunity and proving the previous offering was worth the time and R&D to investors with good data will re-ignite excitement and investment. Although market conditions have been terrible lately, RGNX has held up great (I interpret this as positive sentiment going into data).
I have outlined and noted bullish patterns I will be watching.
One-Year-high : $85.10, July 09, 2018
Cup and Handle formation starting date of IPO (Stock has retraced to bullish .707 harmonic retracement level from the July 2018 high).
Recent low of $30 has significant price structure to hold current support.
$30 also marked "oversold" territory and double bottom on the one-year chart.
Symmetrical patterns portray controlled accumulation/ distribution in downtrend.
Recent price spikes indicate Bulls buying back in for potential run-up on good data.
RSI and CCI moving toward positive slopes.
Fibonnacci support levels converge with July 09, 2018 high.
Levels to Watch
-- Levels I will be watching to add range from current price ($35) down to $30.40
-- Structural levels (highlighted in horizontal rectangular box)
-- Support levels (horizontal lines on chart) price needs to hold range from $30 -> $26
Please like and follow us here so I can continue finding awesome charts and money moves. Thanks in advance!
Disclosure: I am long RGNX. I may buy or sell within the next 72 hours. This is not a recommendation to buy or sale, please do your homework before investing.
Check my recent move with Conformis Inc. (Nasdaq: CFMS) , gaining over 30% move today
$VIVE Classic "Cursed After Reversed" Or Can It ReVIVE Itself?VIVE seems like it can't get out of its own way. Great gap up in the morning but yet again, another red close. Even after reversing, shares are back at penny stock levels. So is it doomed to repeat history or can it find a new bottom? I don't know if anyone really knows for sure just yet.
"Viveve’s stock price had a terrible September, dropping more than 57%. However, its start to October is looked promising at the start. The healthcare penny stock gapped up over 25% during premarket hours on October 1st. In addition, the penny stock has already tripled its average trading volume. But as you see, VIVE stock has pulled back considerably from those premarket highs."*
*Quote Source: 5 Money Making Penny Stocks To Watch This Week
Most Recent News: Viveve Raises $6.76 million Through Completion of At-The-Market Equity Financing
ENGLEWOOD, CO / ACCESSWIRE / October 1, 2019 / Viveve Medical, Inc. (VIVE), a medical technology company focused on women's intimate health, today announced the completion of its at-the-market (ATM) offering of $6.76 million of shares of its common stock with Ladenburg Thalmann & Co. Inc. as the sales agent. The company sold 1,004,171 shares at a weighted average price of $6.73 per share (adjusting for a reverse stock split of Viveve common stock effected September 18, 2019) resulting in net proceeds of approximately $6.56 million to the company after deduction of sales commissions. As of September 30, 2019, the company had 1,469,589 shares outstanding.
About VIVE
Viveve Medical, Inc. is a medical technology company focused on women's intimate health. Viveve is committed to advancing new solutions to improve women's overall well-being and quality of life. The internationally patented Viveve® System incorporates cryogen-cooled monopolar radiofrequency (CMRF) technology to uniformly deliver volumetric heating while gently cooling surface tissue to generate neocollagenesis in a single in-office session.
News Source: finance.yahoo.com
Did IGXT Just Give It All Back?IGXT traded almost the same share volume as previous on Monday with a big red candle. Does this signal weakness for the stock and will it be able to hold levels at or above the previous gap it had from months prior?
"The biotech penny stock 's price increased by 61.5% over the month. It started with the company presenting at the H.C Wainwright 21st Annual Global Investment Conference which occurred on September 9th. Towards the end of the month, IntelGenx announced its resubmission of RIZAPORT’s New Drug Application."*
Volume is always something to pay attention to especially when you talk about finding penny stocks to watch .
*Quote Source: 5 Money Making Penny Stocks To Watch This Week
Stock: IGXT
$SNNA Trying To Fill The Gap?The clinical-stage biopharmaceutical company ( SNNA ) enjoyed an incredible rally and skyrocketed by as much as 76% on Monday.
There was no material news with regards to the company that could have been a catalyst. It is perhaps more intriguing since on September 17 it had emerged that the company had filed for Chapter 11 bankruptcy. This was done in order to restructure the company. That being said, the recent rally makes things very interesting.
Source: 3 Penny Stocks To Buy or Sell In October?
PCI Biotech $PCIB.OL testing breakout from yearlong downtrendPCI Biotech Holding OSL:PCIB stock has been consolidating in a trading range below last years 30 NOK shareprice rights issue of NOK 360 million.
Positive market reaction to the latest quarterly report from the company, along with good coverage in magasines:
www.tu.no (norwegian language)
nordiclifescience.org (page 91-94)
At the moment, the stock is testing a breakout from the old trading range, and longs will be keen to see further conference or scientific journal coverage of the ongoing clinical programs for the companys FimaCHEM and FimaVACC products, as well as partnering deals for its FimaNAC product.
The Conformis Come-BackConformis Inc. (Nasdaq: CFMS) is a medical technology company that uses its proprietary iFit Image-to-Implant technology platform to develop, manufacture & sell patient specific joint replacement implants. The implants are designed to fit each patient's unique anatomy.
CFMS stated in their previous ER (July 31, 2019), the company was updating their 2019 outlook to have "generally flat year-over-year product revenue growth for the full year 2019." The 'expected decrease in growth' was primarily due to denials in coverage from Aetna, the 3rd largest commercial payer. During the conference call, CFMS said they had "submitted its clinical and economic data to Aetna and understands that Aetna is currently reviewing its medical coverage policy." During the conference call, Conformis CEO suggested a potential update was coming this September from Aetna.
As we approach mid-month, price has held 50 retracement from the lower-high made on August 28, 2019 ($2.33 ). Conformis stated that the letter denying coverage from Aetna only referred to Conformis as a company, rather than a product denial per usual standards. If Aetna did make a mistake and is willing to cover the Conformis custom joint replacements, this could bring massive upside to the current stock price.I am forecasting a $5 PT (assuming CFMS gets Aetna coverage as they did with Cigna before).
Data from July 2019 10-K
Market Cap: $137.357 Million
Cash : $20.66 Million
Revenue (product and royalty): $19.593 Million
YoY Rev: +3%
52 Week High: $4.83
Ave Vol(10 Day): 628,900
Shares Outstanding: 68.68 Million
Shares Float: 50.01 Million
Technical's
As shown in the previous chart , CFMS is positioned for a breakout. Price has continued to hold the 50% retracement from the Aug. 28, 2019 high. Previous patterns from January 2019 show similar price movement (trend-line in blue), indicating a "new" uptrend in the making.
-Bullish Gartley in tact;
-Aligning Fib time-cycles;
-RSI approaching breakout level;
-Our proprietary indicator showing strong momentum going into tomorrow's trading session (Flips green = Bullish AF), Weekly flashing bullish signal.
Conclusion
Potential of medicare approval for total knee replacement at surgery centers in 2020 is a huge opportunity as baby boomer population grows. The Aetna reimbursement issue will pass (as Cigna did). The soon to be released total hip system is being undervalued by the market. I am forecasting a $5 PT foregoing CFMS getting Aetna coverage.
To read more of my analysis on CFMS visit our site, here . Please like and follow so I can continue finding awesome charts! Thanks in advance team d+)
Disclosure: I am long CFMS. This is not a note to buy or sell. Please do your homework before investing.
Neurocrine Biosciences (NBIX) Looking to Breakout HigherBefore a major cup and handle forms, it often forms a half cup or rounded bottom that signals a more back toward former highs. It can be an early entry into a really large move if the stock breaks above former highs, or it can simply provide a swing trade which rides the momentum up into the prior high region.
The target for the trade provides for an exit just below the prior high, since the price may consolidate there. Alternatively, a trailing stop loss could be used in case the price flies through the prior high and keeps going. In either case, the risk/reward is attractive here.
The last patterns like this played out in 2012 into early 2013, and then again in 2014.
Disclosure: Entering long this week, assuming the price action remains strong.
1D) Short AAOI 22% since last alert. But the bearish pattern confirmed it's a short candidate from now.
XBI - Oct 18Watching XBI to short at 85-86 if it fails to close above the triangle for at least 3 consecutive days.
Targeting 80 Put Oct 18.
GILD - Nov 15I totally missed this rally after the breakout from 64. Previous resistance is at 69. It would be interesting to see how GILD performs around that level.
Watching for a jump of the cliff move from the ladder it is climbing.
Targeting long 65 Put Nov 15.
AMGN - Oct 18While the market and sector has been going up, AMGN has been selling off. Looking forward to AMGN finding support between 189 and 185. Good time to short if sell off continues.
Slow Churn Higher Or Another Pause For BLCM?"Since August 21st, Bellicum’s stock has made a very strong rally on the back of news releases. The price of the biotech penny stock is up nearly over 30% since the beginning of the month. This gain and volume increase came initially following the company’s $140 million public offering on the 21st. Bellicum is also participating in 3 healthcare investor conferences throughout September."
Source: A List Of Penny Stocks To Watch As They Approach September Highs
pennystocks.com
And I understand how speculation could play a role. However, there's less volume now compared to a few weeks ago and it's approaching a level that also falls in line with previous levels it was at before.
AVEO Fake Out? Or Consolidation Before Another Breakout?Aveo recently announced that the Tivozanib drug , in its second analysis, showed an improved survival hazard ratio. This penny stock news prompted the company’s stock to fly over 60% from Monday’s opening bell to Tuesday’s premarket high of $1.10. But just as quickly as it jumped, AVEO pulled back aggressively during the last 30 minutes of trading on September 10. Good Phase 3 news? Seemingly so but will profit taking crush the hopes of this breaking beyond $1 for good?
Chart indicates possible technical levels and it seems that around today's high is one of those levels.
"Biopharmaceutical company, Aveo Pharmaceuticals Inc. ( AVEO ) is pursuing treatment plans for different tumors. The company has 4 treatment plans in clinical trials and 2 additional ones undergoing pre-trials. Aveo’s lead product, Tivozanib, has completed the clinical trials and has been filed and marketed."
Source: A List Of Penny Stocks To Watch As They Approach September Highs
Bullish GartleyAbout CFMS
Conformis, Inc. (NASDAQ: CFMS), is a medical device/ technology company that uses its proprietary iFit 'Image-to-Implant' technology platform to develop, manufacture and sell patient specific joint replacement implants that are designed to fit each patient's unique anatomy.
Technicals
Bullish Gartley pattern (786 retracement)
Fibonacci confluence at the 1.272 extension
382 continuation pattern (Keeps bouncing off and making higher lows-- if it continues it could be used to further add)
In-line with Fibonacci time-cycles
RSI pushing higher on Daily and Weekly
Potential gap up to fill up to the $2.75 level.
Conclusion :
CFMS has sufficient funds, great management and recently received some 510 certifications while broader markets were selling off. Looking to re-claim those prior gains. Will revisit the trade at or around time of the gap filling.
Like and follow so I can continue finding awesome charts and trades. Thank you in advance d+)
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Disclosure: I am long CFMS. This is not a note to buy or sell, please do your homework before investing.
Bullish SharkLeap is looking to make another leap. Harmonic shark patterns leave more room for volatility trades and make for high reward scenario's when traded correctly.
As of today (09-04-2019), 84,220 of the 261,828 shares traded where short. This is equivalent to a sizable 32.17% short percent.
The technical's are now aligning with some key dates with a potential short squeeze on its way (assuming good data).
$LPTX is trading at the lower end of the long-term trading range.
Bullish harmonic shark pattern, look for profit taking and/ or chances to add at the 382 and 50 retracement levels to ride up to the top of the range.
Not only does this trade have massive upside potential for a swing trade, it is also showing confluence with Fibonacci time-cycles, fib-retracement and trend.
Tip of the day: Learning how to be disciplined is vital to trading volatility. Follow our trading team for ideas on how to stay more disciplined in biotech.
Disclosure: I have no position in LPTX. I may buy or sell in the next 72 hours. This is not a note to but or sell. Please do your homework before investing.
Can MRNS go the distance this week?"On Tuesday, the company earned attention from analysts at H.C. Wainwright. The research firm initiated coverage on MRNS stock. It gave the company a “BUY” rating as well as a price target of $5 per share. This was the 3rd analyst firm to initiate coverage on the stock this year. Previous to H.C. Wainwright, Jefferies and Leerink Swann both initiated coverage with “BUY” and “Outperform” ratings, respectively, for the penny stock. The two other firms also..."
3 Penny Stocks Making New Highs In September
NASDAQ:MRNS
