IPA did their previous financing recently at around 17ish or 13.45 USD and ,so they are cashed up and with the covid variants coming in, I believe this is starting to set up to be a nice value play as I believe sentiments will eventually shift back into covid treatments. I believe the fundamentals are strong, but I don't feel like typing it out here, so I will go through the technical here.
1)On the rsi we can see hidden bullish divergence and a RSI trendline break
2)We can also see hidden bullish divergence on the MACD.
3)The candlestick pattern is not quite a bullish engulfing, but that we broke the highs of the previous 3 days is quite telling of the shift in sentiment.
4) We are near a long term trend line
in a smaller tf we can see that there was a bullish retest of a trendline and a smaller breakout that occurred as well.
If you believe in the thesis of a drawn out pandemic where the need for covid treatments and antibody cocktails are needed ,then this is a strong entry point.
1)On the rsi we can see hidden bullish divergence and a RSI trendline break
2)We can also see hidden bullish divergence on the MACD.
3)The candlestick pattern is not quite a bullish engulfing, but that we broke the highs of the previous 3 days is quite telling of the shift in sentiment.
4) We are near a long term trend line
If you believe in the thesis of a drawn out pandemic where the need for covid treatments and antibody cocktails are needed ,then this is a strong entry point.