I think Novan Inc (NASDAQ:NOVN) will post a sharp rally from current levels. This was a $20 stock in June and at $8.14, in my opinion, there is a compelling risk/reward scenario. The risk is the stock continues to fall, the reward is a swift 30-50% type move for this oversold stock. Analysts price targets are very high compared to current prices.
*This is not financial advice, so trade at your own risks* *My team digs deep and finds stocks that are expected to perform well based off multiple confluences* *Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management* My team has been paying close attention to the price action of biotech...
Last time I talked about NNDM is determining the value of NNDM after their acquisition, which is bullish for the company and believing it should valued at a $10 stock. We look at NNDM and show there's no fundamental change in the long term price action, yet we can assume we might not get the gains we want in the market until the fall. According to market watch...
Disclaimer: I do own a position and you may want to do your own DD, since this post maybe bias even if its not. Please do your own research. Novan is a pennystock biotech that picked up steam last fall like many pennystocks, but through out 2021 stocks have been getting hit with biotech and pennystocks/low caps being the worst hit sectors. Cathie Woods states in...
Volume accumulation, above the 14ma, will test the red cloud on the right with levels above. Good luck if you play!!
Lets just wait and see
S/R flip seems really probable here I went long looking for at least $2.30
- Seems to be breaking out, watch for consolidation first at this support level - It's a pennystock so manage risk - Gap to fill, Cup & Handle, Bull flag - fundamentals seem good - Trigger is strong volume up on this bull flag PT: 3.1 GL
Well looks like NOVN is breaking out to new highs. Simple setup. Price above the supporting moving averages and moving above recent resistance.
Enter at support with tight stop loss. 1,2,3 Watch the volume closely to find the entry point and Watch the 5 min rsi to confirm it Enjoy