Momentum Stock: Viking TherapeuticsViking Therapeutics Inc is a clinical-stage biopharmaceutical company and is focused on the development of therapies designed to treat metabolic and endocrine disorders. This includes conditions like fatty liver disease and type 2 diabetes, which have been on the rise globally.
The stock's price performance has been quite remarkable in recent periods. The share price has shown a steady increase over different timescales, with particularly impressive growth over the past six months and one year, seeing a 499.75% and 945.06% surge respectively. The year to date growth is at 164.96%, showcasing a persistent bullish trend for Viking Therapeutics.
The Relative Strength Index (RSI) of 65 indicates that the stock is currently close to the overbought territory, suggesting a strong momentum in the stock's price. It also hints at potential future price corrections, which is common after periods of rapid growth.
However, investors may want to approach this stock with caution despite its impressive performance. Biotech stocks like VKTX can be quite volatile due to the binary nature of clinical trials results. Positive outcomes can result in significant stock price appreciations, as we might be seeing here. On the other hand, a failed clinical trial can drastically affect the stock price in the opposite direction.
Moreover, Viking Therapeutics, as a clinical-stage company, likely doesn't have a product on the market yet, meaning it probably doesn't have revenue or profit to fall back on. This can be a point of concern as it makes the stock's performance heavily reliant on the successful development and subsequent approval of its therapies.
Stocks like this are HIGHLY speculative and trying to time any kind of an entry can be difficult. It has just had a 10% pull back and regained most of it quite quickly. It could continue to run, who knows. If you decide to trade it, keep a close eye on it. A trailing stop loss of around 15% would have kept you in most of this trade. If it broke below that it could have been a good sign to exit and look for a new entry when the trend resumed.
As always how you interpret and decide to act on any results is up to you. This is just data not financial or trading advice and past performance is in no way any guarantee of future performance. Think of it as a way to spot stocks you might be interested in and can add to your watch list and perform further research on and or discuss with your broker.
Again. Not trading advice . Industries and companies change. Trends can end. Do your own research / discuss it with your advisor, but might be one to watch.
VKTX trade ideas
Watchlist 2023-03-28 $SPY $BABA $VKTX $AUPHSPY - unable to hold the reversal from yesterday for a fairly range bound day, gapping down to PD lows but also PPD support at 395.50. Note that SPY once again rejected the important 399 level right off the open, this is a sign to me that the market needs to head lower. Home price numbers have been the stickiest form of inflation so when that data is released at 9:00 that could provide a catalyst for the direction of the market if it comes in hot, if it does, we could see at least 394 support tested.
Remember, for a trend day we'll need to see the $ADD pinned near +\-2000 and $VOLD ratio over +/- 3 and $TICK cumulating past 0 wicking to +/-900.
$BABA - Alibaba to Split Into Six Separate Groups in Biggest Shake! Extremely big news. Gapping up 9% for2.5 ATR move. Chinese ADRs can be tricky to trade. Like crypto. They can have huge rallies and complete reversals so it's important to take profits when you have them. Currently at 95 resistance,, nest is 97 200 EMA, and they 100. Buying dips on the name looking for a push higher early on. Scaling into the trade as more sign of continued strength persist. If it gets above 95 early on and reverses back into the channel that is an exit signal.
$VKTX - Viking Therapeutics obesity drug shows promise in early-stage study. VKTX has a history of gapping 'bigly' and going EVN further. This is as potentially A+ trade as it's gapping over the insanely flat and key 12 top resistance. PM resistance at 12.5 is next. With no res until 23 ATH. ATR is only .75 so it's gapping up 5, which is usually excessive but not for this name. LLY has a similar Obesity drug and this name is up 37% since 2022. Watch the tap closely for sign of buyers (wicks, lower highs, strong green bars and sequential red bars) Looking at add a starter at support, adding on continued signs of strength, and consolidation break of the 14.50 if all signs align.
Other watches:
$GOLD - gapping to the 18.70 key pivot. A bit extended into the open but signs of weakness in the SPY could move this higher, uncertainly in the market also helps. Support near 18.50, 18.40.
Other watches:
$VMW - gap and go support at 121 after a beautiful BO.
$AUPH - looking for support test of 10.65 or 10.40
Best Penny Stocks to buy and watch in April 2020Best Penny Stocks to buy and watch in April 2020 : VKTX
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Date of the Release : VKTX
FDA date of approval - 17th of April
What’s the real story :
The beauty of Penny stock that I trade in particular , They are ALL pharmaceutical companies. The AMAZING part is 90% of Biotech penny stocks get approved , Still there is 10% that will go the other way ! That's why I'm here for my students to scan all the markets and give them the conclusion that I personally apply .
How can you actually use this ?
We ONLY trade regarding the news ! Meaning that when we see the anticipatory run UP I start trading it and letting my students and followers take the advantage 👨🎓.
The Best Part
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QUESTIONS ?
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Viking Therapeutics set to soar today. Entry level $8.66 above daily resistance and 1.414 Fib expansion level.
Target price $9.38.
Stop loss $8.42.
Short interest 29.85%
Company profile
Viking Therapeutics, Inc. is a clinical-stage biopharmaceutical company, which engages in the development of novel therapies for patients suffering from metabolic and endocrine disorders. The company's clinical program VK5211, treats patients recovering from non-elective hip fracture surgery. It also specializes in development of VK2809 and VK0214. The company was founded by Brian Lian and Michael A. Dinerman on September 24, 2012 and is headquartered in San Diego, CA.
VKTX - Consolidating for a nice move up?Note: This is not an investment advice but my opinion alone. Please feel free to comment.
The Viking ship has been sinking since it released it recent data and reached a 52 week high. However, I think we are in wave 4 of a 5 wave up and we could get as low as $8.06 when looking at FIB ration from wave 2 to 3. I am long this stock and will be adding if we get close to that price.
I do agree with Raymond James analyst who gave price target of $45 (but only if the stock gets bought out in the short term)
VKTX nice triangle potential for great RR $$$VIKING Therapeutics..... like the formation, risk reward profile, and direction of the trend.
Targets are the bolded lines and boxes based off fib zones/ extensions.
Green is trigger red is stop or place stop below large white candle. 13, 16, 20 targets. Maybe higher