UNCY - Cup and Handle & CatalystUnicycive Therapeutics Inc is a biotechnology company dedicated to developing treatments for certain medical conditions. It is focusing on kidney diseases. The company's lead drug, Renazorb, is a novel phosphate-binding agent being developed for the treatment of hyperphosphatemia. Unicycive's other drug, UNI-494, is a new chemical entity with the issued composition of matter patent protection in late preclinical development for the treatment of acute kidney injury.
Disclaimer: This content is for informational purposes only and should not be considered financial advice.
Investment Overview (Dated 29/04/2024):
Relative Volume: 5.22
Shares in Float: 24.99 million
Recent Insider Buys: Noteworthy, suggesting potential confidence within the company.
Key Upcoming Dates:
Catalyst Event: 25/05/2024 and Q2 2024
Technical Analysis:
Cup and handle pattern detected.
Critical Resistance Levels: Watch for resistance at $1.60 and $1.80. Breaking above these levels could signal potential upward movements.
Key Support Level: The $1.30 level must be surpassed to enable further gains.
Trading Strategy:
Take Profit (TP): Set a profit target at approximately $2.50 to maximize returns.
Stop Loss (SL): Establish a stop loss strategy below $0.95 to minimize potential losses.
Chart Analysis:
For a detailed visual analysis of price actions and trend lines, please refer to the accompanying chart.
Trading Caution:
It is crucial to trade with careful consideration of market conditions and personal risk tolerance. Conduct thorough research or consult with a financial advisor before making any investment decisions.
