Daily chart presents some strength with recent news release relating to Opgen expanding testing in the state of New York with the use of their “Acuitas AMR gene panel” The product is (RUO) research use only, as is has not yet been approved by the FDA. I believe that with the current market, it’s highly likely that the gap should be filled within this week, and...
Bullish Pennant (60%) Pros: Volume during post formation Descending volume during triangle formation Golden cross in blue PPS above 50MA and 200MA RS above 0 R/R ratio above 4 200MA ascending, barely Cons: ATR Flat/descending 250RSI below 50 and flat RS barely ascending Earning coming. May make it or break it. Target: PT = 4.79$ Help how ever you can to keep...
From a technical standpoint the chart on OPGEN looks like it will head upwards, but my personal opinion, I believe it is possible that the SP will take a dip in the following days with earnings report coming on March 25th; Alongside market uncertainty with treasury yields increasing, it’s possible that it heads to 1.90’s and even 1.80’s price points again....
Come on over and shoot some fish in a barrel with me! Reload here!
Points of interest on chart. We might have another day or two of movement upwards. This can go either way (predicted green and red zone in chart) Be careful! *Please leave a like if you find this useful, thanks*
In case you missed it the first time, load up for round 2, then round 3!!!
Please note: - I'm just sharing my view. its not a recommendation for buying or selling. - penny stocks moves most of the times are " pump n dump". don't chase them, and you must have an exit plan.
Description on chart I am NOT a financial advisor this is just my opinion. Please DYODD.
OpGen has gone through a complete accumulation cycle in anticipation of FDA approval for their AMR gene panel. During the last few days of broad market pull back, we see above average volume the downside holding support at $2.80 - $2.90. RSI on the 1HR is approaching oversold. SP has fallen through 50EMA we could possibly see a correction back to uptrend support....
Hyping on twitter: Added New position $OPGN primarily for the top catalyst FDA decision Acuitas AMR Gene Panel. In addition, pipeline includes Broad pathogen and Antimicrobial Resistance Marker coverage. 53 M market cap. Eyeing $3.3 breakout target towards $4 plus. Should spike on FDA decision. twitter.com
Buy at market with a stop loss at 1.65 with resistance lines as targets to scale out of your position.
My opinion on OPGN near term as described in chart. I think OPGN is ready for new highs shortly simply based on technicals. I have also done extensive DD on this company and although it might be risky. this company has the potential to run similar to BNGO if their product gets FDA approval. All of this is just my opinion, please do your own due diligence.