OPGN
has slowly crept up ever since that insider buying in June. After meandering around the 786 fib line for weeks, the stock finally headed back toward that 618 fib line and...yet again...was rejected at that level. In general, momentum has been building in the stock but now with some attention, this 618 fib level could be an important one to keep an eye on for longs. You've also got the FDA review to think about as well. From June:
"The company recently submitted an updated 510(k) summary to the FDA for its Acuitas AMR Gene Panel for isolates. It included all of the FDA’s previously requested updates and consistent with the FDA’s outlined timeline. OpGen was previously informed that the FDA intends to complete its review by the end of August...Obviously, with infectious diseases taking up a lot of the news flow over the last year, diagnostics companies have grown in popularity. Along with subsidiaries Curetis GmbH and Ares Genetics GmbH, OpGen develops and commercializes molecular microbiology solutions to guide clinicians with rapid and actionable information about life-threatening infections...One of the main catalysts for this week is actually based on insider activity. A few Form 4s were filed on the 14th, showing insider buys this month. Both COO Johannes Bacher and CEO Oliver Schacht picked up a total of 40,000 shares for just over $90,000. Purchases were made at prices ranging from $2.22 to $2.30."
Quote Source & Read More: 5 Top Penny Stocks Insiders Decided To Buy In June 2021