$GLSI Releases Trial Data Soon- Keep It On Your Watchlist
Fundamental Analysis:
Greenwich LifeSciences Inc. is a clinical-stage biopharmaceutical company that focuses on the development of a breast cancer immunotherapy treatment to prevent the recurrence of cancer following surgery. This treatment, GP2, has been undergoing phase two clinical trials for a while, and the data from these trials will be released April 10-15, 2021. Considering the success in previous trials, the probability of the data being good is high.
Technical Analysis:
$GLSI is showing strong momentum coming off of a sizable dip, which shows strength and could mean that this trend will continue. In addition to that, we are experiencing very low volume at the moment, which means that as buyers come in in anticipation of these trials, it will have a larger impact on the price.
My Outlook:
Personally, I am planning on only playing the hype this week. I am anticipating strong hype growth this week. The risk on this name is extremely high, considering that if the phase 2 data disappoints phase 1 buyers, they are all likely to sell, which could potentially bring the price all the way back down to $5. The chance of the data being bad is relatively low, but the consequences if it happens to be are detrimental. I am planning on selling on Friday or as soon as they hit around $45. Like and Follow :) Good Luck!
If you like these biotech ideas, follow @CobraTrader13 for weekly biotech watchlists.
Greenwich LifeSciences Inc. is a clinical-stage biopharmaceutical company that focuses on the development of a breast cancer immunotherapy treatment to prevent the recurrence of cancer following surgery. This treatment, GP2, has been undergoing phase two clinical trials for a while, and the data from these trials will be released April 10-15, 2021. Considering the success in previous trials, the probability of the data being good is high.
Technical Analysis:
$GLSI is showing strong momentum coming off of a sizable dip, which shows strength and could mean that this trend will continue. In addition to that, we are experiencing very low volume at the moment, which means that as buyers come in in anticipation of these trials, it will have a larger impact on the price.
My Outlook:
Personally, I am planning on only playing the hype this week. I am anticipating strong hype growth this week. The risk on this name is extremely high, considering that if the phase 2 data disappoints phase 1 buyers, they are all likely to sell, which could potentially bring the price all the way back down to $5. The chance of the data being bad is relatively low, but the consequences if it happens to be are detrimental. I am planning on selling on Friday or as soon as they hit around $45. Like and Follow :) Good Luck!
If you like these biotech ideas, follow @CobraTrader13 for weekly biotech watchlists.
