BULLISH BIO PENNY STOCKS WATCH LIST - POTENTIAL SPIKES!
Hey all! I figured I would do something different this time around. I personally did the due diligence on these tickers, and provide reasoning, on why I personally believe these tickers will see a spike in volume for the month of August.
1. IntelliPharmaCeutics International Inc. ($IPCIF) - Intellipharmaceutics, we are engaged in the research, development and commercialization of controlled-release and targeted pharmaceutical products, both novel and generic, with a particular emphasis in the opioid abuse deterrence space.
Currently on a downtrend from people selling on recent PR. This could make for a possible bounce play from 180D, has history of having levels of support around 0.16/0.19 area.
Catalyst: NDA resubmitted with new PDUFA date of August 28, 2019 (Could be delayed, but with right volume great scalp/swing).
Currently still on a downtrend. A break below 0.20 this will go back down to 0.16/0.18 area.
Previous levels of support: 0.16/0.19/0.20 area.
2. AVEO Pharmaceuticals, Inc. ($AVEO) - AVEO Pharmaceuticals, Inc. is a biopharmaceutical company dedicated to advancing a broad portfolio of targeted medicines for oncology and other areas of unmet medical need. The Company’s strategy is to retain North American rights to its oncology portfolio while securing partners in development and commercialization outside of North America. The Company is seeking to develop and commercialize its lead candidate tivozanib in North America as a treatment for advanced or metastatic renal cell carcinoma (“RCC”).
Catalyst: Noted January 31, 2019 that FDA recommended against filing an NDA with current OS data. Additional interim OS analysis due August 2019 with further OS data 4Q 2019.
AVEO is personally one of my favorites because it is bouncing off 52-week lows. With the right positioning, it can make a great hold leading up to PR.
Needs to break above 0.65, seems to be slowly up trending.
Bearish: Break below 0.61
Great upward potential.
3. Evoke Pharma Inc ($EVOK) - Evoke Pharma, Inc. (NASDAQ: EVOK) is a specialty pharmaceutical company focused primarily on the development of drugs to treat gastrointestinal (GI) diseases. The Company was established by experienced specialty pharmaceutical executives with a successful track record of acquiring, developing, registering, and marketing pharmaceutical products in the US.
What will drive the price up (possibly), is the hopes of getting the green light from FDA. Other than that, there will be a minimal spike and major sell off. Of course this is only my opinion, but based off past history... this bio is no different.
Volume has been dying down on this bad boy. It would need to trade above $1 to keep going upwards.
Support areas: 0.73/0.95
Bullish: A break above $1 and hold.
Bearish: A break below 0.95
DISCLAIMER: Not a financial advisor. Just sharing my opinion on potential price action if volume comes in. Opinions are my own, please do your due diligence. Do this out of passion!