Another oversold pharma! Destiny Pharma (#DEST $DEST)
See my chart for Oncimmune. Nice little bagger and similar conditions here.
RSI just above 20. Historically, price has bounced when RSI has been between 12-20. Bought a tranche already and ready to buy more if it does slip further (possible depending on when/if results are released as that may let stale retail holders out).
Price hovering on the lower BB bands so plenty of scope for recovery. Would have liked to seen the bands start narrowing but again another opportunity to buy more. Volume profile (weekly chart since IPO) about 44p.
However, Phase 2B results due in H2, which, if successful, would be a major rerate catalyst and broker has a 250p target which is nice ramp fodder. Realistically, they'll need funding for Phase 3 (be it a placing or investment from a major). So happy to take a bag here and evaluate at the time whether to take a free ride or all the funds.
RSI just above 20. Historically, price has bounced when RSI has been between 12-20. Bought a tranche already and ready to buy more if it does slip further (possible depending on when/if results are released as that may let stale retail holders out).
Price hovering on the lower BB bands so plenty of scope for recovery. Would have liked to seen the bands start narrowing but again another opportunity to buy more. Volume profile (weekly chart since IPO) about 44p.
However, Phase 2B results due in H2, which, if successful, would be a major rerate catalyst and broker has a 250p target which is nice ramp fodder. Realistically, they'll need funding for Phase 3 (be it a placing or investment from a major). So happy to take a bag here and evaluate at the time whether to take a free ride or all the funds.