Disclaimer: All biotechs are extremely risky, so do your own DD
I like this setup in CNAT. Despite the fact CNAT has recently failed a trial, I look at this as an opportunity to run before the next dataset in the 1st half of 2019.
Reasons I believe this is:
Stock has a history of filling all gaps in the chart. Gap at 4.50 currently needs to be filled.
Ascending Triangle Chart Pattern (bullish)
Even though it temporarily made historically new lows for the stock, it subsequently rebounded off the long term support area.
Risks are as follows:
Stock offerings (although they already raised 28.6 million for trials and expenses back in May)
Failed trial
We'll see how it plays out
I like this setup in CNAT. Despite the fact CNAT has recently failed a trial, I look at this as an opportunity to run before the next dataset in the 1st half of 2019.
Reasons I believe this is:
Stock has a history of filling all gaps in the chart. Gap at 4.50 currently needs to be filled.
Ascending Triangle Chart Pattern (bullish)
Even though it temporarily made historically new lows for the stock, it subsequently rebounded off the long term support area.
Risks are as follows:
Stock offerings (although they already raised 28.6 million for trials and expenses back in May)
Failed trial
We'll see how it plays out