PYC Chart looks the goods, page-112

What a massive week with SP up by 20%. In fact from the beginning of this upswing @11c on 02.09.2020, it has gone up by a whopping 63.6%. That's because of the ground breaking news of Creation of Gene Therapy Delivery Technology, followed by 2 more pieces of good news last week.

The Bear Case:
Like clockworks pros and robots are getting ready for a retracement to 16c if there are no impetus in the next 8 trading days to 22.10.2020. This is further supported by the decreasing volume while the SP was trending up last week, signalling a weakening upwards momentum. Depending on the buying interest, this slight pull back could happen in 2 stages. Initially back to 17c which is the last peak. If buyers don't come back in strength it could go down to 16c which is the 78.6% Fibonacci level. That is also the midline of the uptrend channel where some robots would see value and switch sentiment to buy. Below that, there is a good support band between 15-16c.

The Bull case:
PYC has been busy promoting itself behind the scene. Thanks to technology such as Zoom, efficient presentations could be delivered from Perth to Instos and funds around Australia with just a few clicks. I had the benefit of attending one. Q & A were also fielded and prospective investors brought up to date with PYC's technology, timeline and bright future. Best of all the $$$ in future earnings continued to be glaring in front of their eyes. If buying has not started, it would be a matter of weeks when they see the uptrend is sustained. Coupled with the end-Oct timeline of Orphan Drug Designation announcement from FDA, 18.5-19c would be the 1st projection. If it causes a run by the FOMO, an impulsive spike to 20c or above is also on the card as it is the 150% fibonacci level, again one of the robot's targets on sight.

Farther afield, if the rabbit tox test is successful and more drugs in the pipeline announced, there is all likelihood of a break out above the current uptrend channel (brow line). the end of year projection would be 27c (+50%). If not, the current trend would only extend to 22c (+22%) which is still a decent gain. All these are based on the assumption that the stock market would stay the course with no corrections to the end of the year.

These are my TA thoughts, DYOR! If you would like more of these charts and analysis, please click the "Great analysis" button for encouragement.