Rally has to do with news released yesterday afternoon. Could continue to rally, but we might see a triple top setup if we see further resistance at this level.
"INO-4800 is the biotech's experimental vaccine designed to combat the strain of coronavirus , 2019-nCoV, currently ravaging parts of China"
www.fool.com
Inovio Pharmaceuticals, Inc. is a late-stage biotechnology company, which engages in the discovery, development, and commercialization of DNA-based immunotherapies and vaccines. Its drug candidates include SynCon immunotherapies which helps break the immune system's tolerance of cancerous cells; and CELLECTRA delivery system which facilitates optimized cellular...
looks like price going sideways
possible range bound into breakout setup
look for short setup with bearish price action and selling pressure
look for long setup with bullish price action and buying pressure
watching key levels establish
Inovio's daily candle chart has completed a "classic" Head & Shoulders pattern as of Oct 2018.
So far the rising neckline ($4.87 today) has provided support but looks as though it may give way. There does appear to be ~some support~ in the $4.70 - $4.74 area.
If share price continues to trade in the ($4.80 - $5.10) range, a DEATH-CROSS of the 50 & 200 SMA's...
INO is revealing head and neck cancer data on November 8-12
It is currently sitting on its 50 day EMA and a past resistance/support level.
Entry: 6.24
Stop Loss: 5.80
Profit Target: 7.00, maybe more
the chart shows yearly high/low movement relative to yearly time frame. Using this method i presume we have thus reached yearly high unless the 70 mil payout via Apollo Corp proves me wrong. Should be coming soon!
![INO: [ALERT] INOVIO/USD goes up since coronavirus??](https://s3.tradingview.com/m/mAFx8mwv_mid.png "[ALERT] INOVIO/USD goes up since coronavirus??")
