Targovax has the cheapest oncolytic virus on the marketONCOS-102 is one of the most promising oncolytic viruses with >200 patients treated.
Targovax stock has been under pressure for years after equity offerings at fairly low pricing, but has been making a strong move recently, quite without many investors taking notice.
Norwegian Biotech especially in the field of cancer immunotherapy may be ready for a new round of interest after the recent news about Vaccibody partnering with Genentech.
CRNAO trade ideas
TRVX buy entryAs you know from my last analysis, TRVX gave a buy signal on the weekly chart last friday.
Now looking more closely for a good entry.
There is a smal gap down to 7.27, which I can easily see filled with a retest of the recently broken black trendline.
2 things will be providing support now, the horizontal support around NOK 6.75-7.20 and the blue upward trendline. I want to see the price hold and bounce from there and then it's a buy for me.
So to summarise:
- fill gap at 7.27
- finding support at the horizontal support area 6.75-7.20
- Not breaking the upward trendline.
TRVX buy signal, target 19Fundamental analysts give Targovax a big BUY, with a target of around NOK 19,-.
I've been waiting for a clear signal of support lately and it has just been formed.
IF the weekly candle closes more or less the way it is now, several positive buy signals are there:
- Long term blue downward trendline got broken and retested. Clear support found on retest.
- Horizontal support area of 6.8-7.15 (purple/gray) held and got a good bounce.
- Weekly cloud got tested and provided clear support. price above the cloud once again.
- Taking the fibonacci retrace of the most recent low and high, the 0.5 fib retrace marked the reversal point, furthermore supporting the idea that this was simply a retrace in a continuing uptrend.
- Bullish engulfing candle pattern generated on the weekly chart(provided price stays more or less like this).
- Short term counter trendline (black) got broken after finding support.
The only 2 cautions I currently have are:
- The relative low volume.
- We are still inside the daily cloud (only just). We clear this cloud at 7.93 (current level).
TRVX buying opportunity, waiting for breakoutAnalysts, from a fundamental point of view, are giving TRVX huge potential with a target of around 19. Reason enough to look at the chart.
So TRVX still seems to find support around 7.00-7.40.
I'm looking for a reaction upwards at the top of the daily cloud and thus breaking out of the descending triangle that has been forming. This can happen any time now!
If this happens then it's a buy for me.
Targovax $TRVX.OL clinical phase oncolytic virus valued 35 mUSDTargovax OSL:TRVX a clinical phase norwegian Biotech is currently at market cap NOK 327 million / 35 million USD.
Value inflection point very close as the company will need to raise funds in the very near future, which must either come from investors or from a possible partner deal.
PRESENTATION OF ONCOS-102 MELANOMA DATA AT SITC ANNUAL MEETING
www.healthcap.eu
Q3 report:
www.targovax.com
Q3 transcript:
finance.yahoo.com
