GCTK 30R LongI like the look of this company on a technical basis.
Please see my previous post on this company for more information about the technicals.
GCTK trade ideas
GCTK - 57RTechnicals-
A clear base has formed and there is the first higher low after a significant trendline break (green circle).
There is also a bullish pattern on the 15 min within a 1hr bullish pattern where the peak of the 15 min pattern broke the final lower high of the 1hr pattern.
All these are very bullish signs.
Fundamentals -
GlucoTrack, Inc. (GCTK) is a medical technology company focused on developing non-invasive glucose monitoring devices, such as the GlucoTrack model DF-F, which uses ultrasound, electromagnetic, and thermal technologies to measure glucose levels without drawing blood.
Key Fundamentals:
Market Cap: $1.56 million
Employees: 61
Revenue: $0 (no recorded sales)
Net Income: -$14.91 million (loss)
Total Assets (Q3 2024): $826,000 (up 35.86% from Q2)
Total Liabilities: $4.85 million (up 24.40% from Q2)
Return on Equity (ROE): -1943.32%.
The company faces financial challenges with significant losses and liabilities exceeding assets. Its innovative technology targets a growing diabetes market but requires strong execution to improve financial health.
Potential bottom, turnaround; catalyst today?Buenos dias,
This stock is crazy and I won't get into the details except at high level: The stock has, until recently, only had ~6.5m issued shares. Some dingus (or genius) cashed in their warrants for ~130m new shares, which sent the trade volume into a craze the past few days. Yesterday GCTK was the most traded stock and the most shorted stock on NASDAQ. Today the market cap of the company based on issued shares is approximately $ 20m. We do not know if the original owner of the warrants cashed out, is holding, or plans to cash out, although they received an outsized portion of shares for their warrants and could dump on the market, although I suspect the massive volume is related to their offloading of shares.
Take a look at the larger chart - it has been dump city for years. So goes the life of a R&D company with no products. The company, however, has developed a novel diabetic monitor that is implantable, lasts 2-3 years, and gives real-time accurate data. This is an order of magnitude more efficient and capable than the best version of implantable devices today. The predict $ 1B in revenue early on after product launch.
Today, they are presenting their latest trial data, presumably from their human subjects, at a major biotech conference at 12:30pm Eastern. This will be their first human-based data release.
Taking a look at the past few days on the chart, despite a flood of new shares and despite a flood of shorting, the price has effectively triple bottomed at $0.11 and has withstood the great flood.
I suspect that this is a new floor, and we will see a period of upward price movement, likely preceded by a large spike today due to speculators. I believe shorters are massively offside here, and there is opportunity to make a significant gain today and potentially over the next few years. Once they go to launch their product, it will be too late for speculators to make massive ROIs.
GCTK jumps on new glucose monitor application SHORTGCTK is an unshortable penny med tech stock. It is now overextended and fundamentals do not
support a move higher. Idea is on the chart. Overbought at this point and likely to fall by Friday
as traders take profits for the week.
GCTK ShortGCTK is an over-extended stock.
GCTK 33.62 M dollar volume with an 18.45 M mkt cap.
The magnitude of the setup average, therefore, deserves average risk. Also, the price of the stock being less than 3 deserves less size given that you need a lot of shares to fullfill a big position.
In this case the risk will be 0.50% of the account.
