With the appointment of Dr. Michael Rosenblatt to the Board of Directions at PYC, it has finally provided a much needed impetus for the SP to rise. Read my comments about his COVID vaccine link in
Post #: 51989972The ongoing effort by bots and professional traders to cap the SP at around 14c had spoiled the chance for PYC to get into the ASX300 index by end March. Well I am sure by the next rebalancing of ASX300 in Sep-2021, the market cap would make the grade like a piece of cake.
BTW
suppressing the SP on close means these people are still wanting to buy. Don't let them fool you into selling. When PYC's US office is fully set up and catching US investors' attention, it would be a different ball game. Volume from US buyers would pick up and the handful of funny sellers and buyers trading1 share (I suspect they are the same mob) would have no fight.
17c which was the last CR price remained a resistant to break.
The large animal toxicity readouts to be announced in the next 3 months would be a major milestone and it should propel the SP to 24 - 25c (see weekly chart for reasoning). When you look back then, you would think 17c was cheap, should have bought more! I am quite confident that toxicity is not an issue. Read my article about AAV/CPP Toxicity in
Post #: 51989800 I would say they are spending more time training the monkey to obey verbal instructions like "sit still", "look at the star on the wall", etc. while trying to inject VP-001 into the monkey's eyeballs
Daily Chart TA Analysis (refer to Chart #1)
- SP broke out of the 3.5 month sideway consolidation from 04.12.2020, indicating a fresh advance.
- Bollinger Band's upper and mid lines are both pointing up, implying an uptrend. The mid line is actually a 20MA line.
- SP to track the midline of the blue uptrend channel.
- The 200MA has been trending upwards non-stop since 05/2019 at a low of 2c. Wouldn't it be nice to simply trade on the 200MA and started buying then?
My 4 favourite TA indicators- Fast Stochastic crossed down = short term SELL
- MACD continues to trend up above 0 = Strong BUY
- RSI continues to trend up above 50 = Strong BUY
- Slow Stochastic flipped up and down at 80 = HOLD
- Overall it's a BUY to a Strong BUY
Weekly Chart with Year End Projections (refer to Chart #2)
I normally wouldn't like to overload your brain with too many charts. But I must alert all HC members that the drought has finally been broken.
The clearest signal is from the weekly MACD that it has flipped to the upside this week! In fact all of my 4 favourite TA indicators are now trending up.
Based on positive events such as:
- the tox readout by end-June;
- one or two additional drugs to be added to the pipeline, especially if one for the CNS;
- timeline of NASDAQ listing announced;
- US investors coming online;
An interesting observation is 2019's peak was 16% above the Fibonacci Pivot R3, and 2020's peak was 220% above R3. Provided that the Blue and Brown uptrend channels remained intact to the end of year, the Fibonacci Pivots would yield a reasonable year end projection.
First, the Tox good news would lift the SP to R2 @ 24 - 25c because VP-001 would have completed the IND-Enabling stage and move it into the Clinical stage for FDA approval. Then other impetus listed above would provide further tailwind for SP to reach R3 and beyond, only bounded by the upper channel line of the Brown channel.
Here are the 3 possible projections by year end:- Best Case Scenario - EOY SP @ top of Brown channel which is 39 - 40c.
- R3 Scenario - Based on TA, R3 @ 29c should be reached by EOY.
- Worst Case Scenario - when no new drugs announced, SP @ 24 - 25c which is highly unlikely.
These are my analysis and TA thoughts, DYOR! If you would like more of these charts and analysis, please click the "Great analysis" button for encouragement.
PYC Daily Chart
PYC Weekly Chart with Year End Projections
(20min delay)