BioVie volume spikes that signals EMA10 possibility.The company announced the completion of its direct offering, raising $6.66 million through the sale of 4.4 million shares at $1.50 per share. Also they issued unregistered warrants for an additional 4.4 million shares, exercisable in 6 months at $1.37 per share, with proceeds primarily supporting working capital.
There is remarkable volume increase as a result. Historically, each spike in volume has encountered resistance at EMA10 weekly. While the stock remains ultra-highly volatile, a price above $9 does not seem impossible at this stage.
BIVI trade ideas
BIVI - speculative catalyst playBioVie Inc is a clinical-stage company developing innovative drug therapies to treat chronic debilitating conditions including liver disease and neurological and neuro-degenerative disorders and certain cancers. The Company is conducting a potentially pivotal Phase 3 randomized, double-blind, placebo-controlled, parallel-group, multicenter study to evaluate NE3107 in patients who have mild to moderate Alzheimer's disease. BIV201 has the potential to improve the health of thousands of patients suffering from life-threatening complications of liver cirrhosis due to hepatitis, non-alcoholic steatohepatitis and alcoholism.
Disclaimer: This is not financial advice.
Anticipated Phase 2 Data Release Date: 04/24/2024
This represents a highly speculative investment opportunity with a favorable risk/reward ratio.
Stop Loss (SL): Set below $0.43 to limit potential losses.
Take Profit (TP): Target around $0.87, with potential for higher gains.
Refer to the accompanying chart for detailed information.
Please trade with caution.