Hi Greenwave thank you for posting the article . I have not posted for a while as I felt that given the sector hammering we would simply need to ride out the cycle until capitulation and await the next up cycle after turn in sentiment .
It seems the biotech sector is turning from its lows and that there has been capitulation . Well at least I hope that is the case .
The BOD as we know has been excellent from the outset and achieved significant milestones to date but with the perfect storm created by many negative macro factors , the biotech sector and growth stocks generally were not going to be immune from the hammering regardless of how strong the fundamentals and how good the BOD is . I am of the the view however that on sector recovery and newsflow that a company of this potential to recover on success of coming further phase trials .
I note many investors want newsflow which is fair enough but in my view I do not see any company announcing news into a negative market unless that absolutely must .
It seems and it is only my view that for now negative sentiment has bottomed in the sector as hopefully has IHL .I feel we are in oversold territory here and would expect it to rebuild over the course of the next few weeks and months and that will coincide with hopefully positive newsflow on the product development into a better market / biotech market sentiment .
I have noted strong support at current price levels and that gives me confidence that it will build from here and that we have seen a likely bottom here and start of a turn with better sentiment .The above comments are only my views but let’s see as only time will tell .AIMO .GLTA .
IHL Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
