Risky Bottom for TRIB 2W TFPrecarious Bottom for TRIB.
It seems TRIB may be cycling up from a downward parallel channel.
cm williams vix fix indicator alludes the Bottom is forming.
SRSI and RSI indicator levels are somewhat healthy.
Risky
TRIB trade ideas
Trinity Biotech ($TRIB) Spike on Increased TrinScreen HIV OrdersTrinity Biotech plc (NASDAQ: NASDAQ:TRIB ) has captured market attention with a staggering 54.20% premarket surge on Tuesday, driven by robust demand for its TrinScreen HIV product. This significant price action reflects a positive shift in both the company's fundamentals and technical indicators, setting the stage for potential further gains. Let’s delve into the key drivers behind this rally and analyze the stock from both fundamental and technical perspectives.
Fundamental Analysis:
Trinity Biotech (NASDAQ: NASDAQ:TRIB ), a commercial-stage biotechnology company specializing in human diagnostics and diabetes management, has made headlines with the announcement of substantial additional orders for its TrinScreen HIV product. The company has increased its projected 2024 sales revenue for TrinScreen HIV to approximately $10 million, up from the previous estimate of $8 million. This is a testament to the growing demand and successful scaling of production capacity.
CEO John Gillard expressed confidence in the company’s ability to meet increased demand, highlighting Trinity’s long-standing expertise in rapid HIV testing. Additionally, Trinity has ramped up manufacturing for its FDA-cleared viral transport medium, FlexTrans, anticipating potential spikes in demand due to the World Health Organization's declaration of a Public Health Emergency of International Concern (PHEIC) for Mpox.
In its second-quarter earnings report, Trinity Biotech posted sales of $15.8 million, marking a 14.0% year-over-year revenue increase and a 7.7% quarter-on-quarter rise. The strong performance of TrinScreen HIV, which generated $3.1 million in sales during Q2, was a significant contributor to these results. The company’s reiterated guidance of approximately $20 million in annualized run-rate EBITDASO and $75 million in revenues by Q2 2025, solely from its existing businesses, underscores the solid growth trajectory.
Technical Analysis:
From a technical standpoint, NASDAQ:TRIB has shown remarkable strength. The stock has surged 54.20% in premarket trading, with prices currently sitting above the 50, 100, and 200-day moving averages. This positioning indicates a strong bullish trend, as the stock has broken through critical resistance levels.
The Relative Strength Index (RSI) stands at 59.43, indicating that while the stock is approaching overbought territory, it still has room to run before hitting overbought levels (typically an RSI above 70). This RSI level suggests that the stock could experience further upward momentum if market conditions remain favorable.
However, traders should be cautious of a potential "gap up" scenario. The daily price chart indicates a gap between the current price and the previous closing price, which, according to technical trading rules, often gets filled in subsequent sessions. This means that while the stock is currently on an uptrend, there may be a pullback to close this gap before the next leg up.
Conclusion:
Trinity Biotech's recent performance highlights a strong fundamental outlook, driven by increased demand for its TrinScreen HIV product and strategic operational improvements. The company’s ability to scale production and meet market demand has positioned it well for future growth.
On the technical front, NASDAQ:TRIB is in a prime position to continue its upward trajectory, with key indicators pointing to further gains. However, investors should keep an eye on the potential for a gap fill, which could present a buying opportunity at lower levels.
TRIB **ON HIGH ALERT**Not only are they crushing EPS. Extremely good chart position falling wedge could break out for a big gain. Definitely watching closely and volume alerts.
$TRIB Breaking outCouple shots on goal here in the near term, mainly accelerating revenue based off existing sales of PCR based COVID tests plus a new 12-min rapid antigen test coming in Feb. This is a turnaround play as the stock was previously priced for bankruptcy. Valuation should be 10-12x sales or $25-$30. Patience on this one, its a slow grinder.
TRIB BullishIt looks like the 50MA is acting as support and the price is very close to the POC which is also at the .23 fibonacci level The MACD is crossing. First target $4.68
Could be a 10 bagger coming up Seems trade between 2 dollars and 24. Worth taking a shot for a 10 bagger if you are willing to wait for the pattern to confirm
Trinity Biotech In Strong Uptrend Trinity Biotech Plc engages in the development, manufacture, and marketing of medical diagnostic products for the clinical laboratory and point-of-care segments of the diagnostic market. It operates through the Americas and Rest of World geographical segments. The company was founded by Ronan O'Caoimh and Denis R. Burger in June 1992 and is headquartered in Bray, Ireland.
$TRIB ascending triangle (possibly with an FDA/EUA catalyst) COVID-19 plays are very hot ATM. One of the most consistent themes that have the most runners. Trinity Biotech has reported that they have been awaiting approval for EUA from the FDA for their COVID-19 tests called "ELISA" . $trib claims their tests are a lot faster. They've ran up to double digits during past pandemics so this play could very well likely also be another one of those plays.
$trib is looking to break out here. formed a triangle, hopefully FDA/EUA approval will be coming soon. if it breaks out of resistance without the catalyst, we'll see 2.39 not too long after. breaking out with the catalyst could send us up to $3 realistically, if FOMO comes in and they chase we might even be able to see $4 ;)
TRIB in for a correctionHello,
My Thoughts For You
This chart is showing the weekly timeframe and we can see that there has been a rejection and if we look at the daily TF there has been a rejection 3 times and 4 times on the 4hr TF. I expect a move down is emanant after being rejected on so many time frames.
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Trinity Biotech PLCreasons for the downmove:
US Food and Drug Administration (FDA)
had raised concerns over the Troponin device’s temperature range
close facility in Sweden and move it to Ireland, which
will reduce its cost base to US$1.5mln from US$9mln
accounts will include a US$50mln write-off.
cutting 40 jobs.
Trinity will engage with the FDA for the approval
being investigated for possible violations of federal securities law
reasons for an upmove:
sells products in over 110 countries
FDA finally approves !
#TRIB $TRIB #neutral #stockOn the daily chart notice that again two of the three indicators are pointing up. the stock is has formed a rising triangle that is about to smash into down trend line. A serious breakout could have impacts on the higher time frame charts. This is a stock to add to your watch list.
weekly
Same story has the monthly. two of three indicators pointing up and there is a strong downtrend that might be broken soon.
monthly
notice two of the three indicators have perked up, the stoch rsi and macd. The OBV has not. Also notice the strong downtrend on the chart, but the recent action could break that trend.
$TRIB could be a nice play today and friday$TRIB could be a nice play today and friday, showing some strenght
