aggiehunter3 said:
$SGMO offering after the bell...tough
2 recent trades I made:
I bought $AXSM yesterday morning at the bell based on purely on tech analysis and got lucky. It ripped 23% over the last two days, so I decided to go ahead and take the quick gains. They have multiple drugs with phase 3 trials and data readouts expected this quarter, so should be pretty good R/R. They completed an offering in March, so I imagine they should have enough cash to finish the trials (have not looked into their burn rate).
I bought $GNCA this morning as it tested the 200 MA this morning and held. Stop loss set just below the 200 day.
Update on the trades, as things are slow at work today and I'm mentally checked out.
$AXSM absolutely went beast mode after I sold reaching a high of $6.10. It's currently sitting slightly below the 200 day at $5.40. A bit more pullback and could be a good r/r entry into several expected data readouts.
Axsome pipeline$GNCA has floated between the 200 day and $5.50 area since I bought. I'm still holding.
$GNCA ChartI entered $rigl at $2.78 yesterday. Although it dipped below the 200 day, it recovered before close and is continuing to find some support at the 200 day.
$RIGL ChartI continue to hold some $CBMX, a company that specializes in pre-implantation diagnostics and screening, prenatal and miscarriage analysis and pediatric development disorders, offering DNA testing for detecting genetic abnormalities. I originally bought at $3.15 based purely on technical analysis and continued to buy until my average was $4.2. I've sold along the way to lock in ~40% profit. As I've held, I began some fundamental analysis that has me more intrigued of the long term prospects. The company is projecting cash flow positive by q4 reducing the risk for additional equity offerings. Further, revenues and margins are significantly improving and the company is moving towards positive EPS.