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BGBIO - an intelligent bet on covidBGBIO is a biotech company with focus on cancer treatment. Like most biotech it is extremely volatile for news, but often fluctuate between key buy and sell zones when no news are evident. BGBIO is presenting news on their cancer treatment 25th of june. They are currently first in line to do a free test in ACCORD - the British rushed testing setup for COVID-19 Before news I expect the share to keep bouncing back and forth between the buy zone (established from a large public offering at 37,5 - 50 MUSD) to the sell zone (as seen on TA). BLUE ARROWS Any movements outside this zone is unlikely before we get more news. If we do get positive news as to treatment going well, the share could very quickly get an insane pricing (2-3x current price). However, as we have seen from a lot of other companies lately, just starting or finishing test phases without failing = price increase. I expect such a movement sometime the next two weeks. The CEO has indicated he will let the market know asap when the study starts and I expect that announcement to quickly bounce the price to ~50 NOK before it retraces to the current sell zone. When this happens it will turn into the new buy zone. 1) Go long with a position, you can collect a probable 25% at 50 NOK within 2-4 weeks 2) Play the swing trade between 37-39 and 42-44 with some of your position in the meantime ____________________ 3) If for some reason the first phase should not go as planned and their drug will not be suitable for covid, the drug is still very well touted for cancer and has the next potential boost at june 25th
BLong
by ssholtskog
BerGenBio $BGBIO upgraded target price to 86 NOK from ArcticSecQuote: "Bemcentinib has shown effect against SARS-CoV-2 (coronavirus) in animal models and has been selected as the first of six drugs to be fast-tracked in the new UK initiative (ACCORD) to enter a phase 2 study directly. Although there are many uncertainties around valuing this opportunity, we estimate the new indication adds NOK 21/share, with a new TP of NOK 86. Read-out of the phase 2 study is expected in approx. 6 weeks. Developments will be followed closely." Source: www.research-tree.com
BLong
by savepiginvest
Will TEL break the downward trend?A bit longer perspective. See clear downward trend with the current weekly view. Currently trading below both weekly and daily 50MA (W171.53, D156.55) and 200MA (W159.70, D170.85). Broke previous support line on the 9th of March, bouncing back into the weekly trend (white lines). Will be looking for first checkpoint at break of daily resistance line at blue point. Will be interesting to see whether it can approach the daily resistance line from last top at the intersect with weekly resistance line in the longer time perspective. RSI chart good and high volume the last two-three weeks. Currently no entry, but will be following this one. The long term support line from 2017 is set at 126.0. Will hopefully bounce back into better times as COVID-19 period is over. Gladly looking for feedback as I am still learning.
OSL:TELLong
by oyvindlarsen
ASA - OSL Incepition day 23-3-2020Greetings fellow traders, As time goes by, the markets evolve... If your way of TA is strong, then the path will lead its way... More visible, more probable: Dashed lines; Possible forming patterns Solid lines; Confirmed patterns / Support or Resistance Dotted lines; Possible price-action trajectories / wave trend Lighten colors = Support | Darken colors = Resistance Current Pattern Formation Level: Alpha pattern: Symmetrical Triangle -> Bullish Pennant Beta pattern: Descending Broadening Wedge Possible Echo Pattern: Descending Broadening Wedge Today's Note: Pretty much the same story as NAS. This one is a bit peculiar though. My point is, and it's a strange one. The price actually must come down a little bit, confirming a lower low. With result that this chart creates a bull pattern. Instead of a bearish one, if it does find support on the current region. Nonetheless, it does make sense? When you look at the big picture. Genuinely curious whether this going to play out as I'm forecasting today. To be concluded...
OSL:NHY
by bonic