LPCN: CUP AND HANDLE PLAY?LPCN :
So what are your thoughts? Does it qualify for a cup and handle ?
Definitely not your typical cup, right? But I do smell coffee here. No cup no coffee.
The pattern is confirmed once we break the previous higher high (the top of the cup).
I'm already in the trade.
Price target on the chart.
Trade safe.
LPCN
Lipocine $LPCN 4th Submission Run-up Lipocine Inc $LPCN has a PDUFA on Aug. 28 for Tlando, a novel oral prodrug of testosterone containing testosterone undecanoate, is designed to help restore normal testosterone levels in hypogonadal men.
Lipocine Announces Derivative Suit Was Dismissed 7/31/2020
www.prnewswire.com
I really like how this chart is setting up over the $1.60 level if volume continues. There is a lot of short squeeze potential in the name, and always manage your risk.
Will LPCN Break back Above Previous Support Or...or will it become resistance? There's been a lot of momentum building up ever since LPCN fell off. We saw some insider buying this month but no new news. Meanwhile other companies are presenting at virtual conferences and all that. It makes you wonder if LPCN has enough steam to reclaim its old levels or if this is just a speculation-driven move in the short term.
"In May Lipocine received RDA clearance for an investigational new drug application for a Phase 2 study of LPCN 1148. This is a prodrug of bioidentical testosterone to treat liver cirrhosis. Furthermore, the company reported results of a preclinical study of its LPCN 1144 which demonstrated encouraging results according to the company. H.C. Wainright took notice of these milestones and increased its price target on LPCN stock to $3 while maintaining a Buy rating."
Quote Source & Info: Can You Make Money With Penny Stocks? 3 Up Big In June
Market May Have Overreacted On $LPCNIt's always risky playing biotech small caps. The stock could collapse at any minute or skyrocket the next. $LPCN looks quite interesting after dropping 70% yesterday. What caught our attention is that the stock opened on the lows and rallied from there. Some bottom feeders were in the stock and that's a good sign for those that are looking for new stocks to trade. Here's what happened:
Lipocine (NASDAQ:LPCN) has received a third Complete Response Letter (CRL) from the FDA regarding its refiled marketing application for testosterone replacement therapy candidate Tlando.
This time the agency cited one issue (instead of four the first time): the efficacy trial failed to meet the three secondary endpoints for maximal testosterone concentrations (Cmax).
The company intends to request a meeting with the agency to clarify a path forward.
The company received the first CRL in June 2016 and the second in May 2018.
Lipocine Inc., a specialty pharmaceutical company, focuses on the development of pharmaceutical products in the area of men’s and women’s health. Its primary development programs are based on oral delivery solutions for poorly bioavailable drugs. The company has a portfolio of product candidates designed to produce pharmacokinetic characteristics and facilitate lower dosing requirements, bypass first-pass metabolism in certain cases, reduce side effects, and eliminate gastrointestinal interactions that limit bioavailability. Its lead product candidate is TLANDO, an oral testosterone replacement therapy. The company’s pipeline candidates also include LPCN 1111, an oral testosterone therapy product for once daily dosing that completed Phase II testing; LPCN 1107, an oral hydroxyprogesterone caproate product for the prevention of recurrent preterm birth and has completed an end-of-Phase II meeting with the Food and Drug Administration; and LPCN 1144, an oral prodrug of bioidentical testosterone that is in Phase I Clinical trial for the treatment of non-alcoholic steatohepatitis. Lipocine Inc. is headquartered in Salt Lake City, Utah.
As always, trade with caution and use protective stops.
Good luck to all!
LPCN- long from 3.93 or higherLPCN is forming a fallen angel pattern. Break of 3.93 will be a perfect entry for long, and we think it will easily hit our target at 5.13
You can check our detailed analysis on LPCN in the trading room/ Executive summery link here-
www.screencast.com
Time Span: 44"
First found: Aug 10th (Text message sent)
Trade Status: Trade opened 10th at 4
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