Fib Retracement on
NRXP
doesn't show much by way of "important levels" until you get to the 786 if you use that ATH for the top of your fib set-up. BUT if you look back on the chart, there's a pretty clear level right AT the area NRXP stock is trading at after this news. Around $12.70 was a previous area where the stock tested but didn't break below. Now, since breaking below, this seems to be a level that it can't break above. However, after the news came out, NRXP has treaded water between 11.50 & $12 in a consolidation trend during the 7/19 session. Volume will be something to keep an eye on moving forward in deciding which way it will break.
"Shares of NRXP were also going against the grain of the broader biotech trend at the start of the week. NRX Pharmaceuticals (NRXP Stock Report) announced that it will present data at the Disease Control and Prevention Summit this week. Wednesday (7/21) the company provides evidence that its YESAMI treatment might help prevent “cytokine storm” in patients with COVID-19.
According to the company, 'In the recently-completed phase 2b/3 trial, patients treated with placebo experienced a statistically significant elevation in interleukin 6 (IL-6) cytokine levels, whereas those treated with ZYESAMI™ had a minimal increase in IL-6. Change in cytokine level was a prespecified endpoint of the study.'”
Quote Source: Small-Cap Stocks To Watch After CYTK Sheds Spotlight On Biotech
NRXP
doesn't show much by way of "important levels" until you get to the 786 if you use that ATH for the top of your fib set-up. BUT if you look back on the chart, there's a pretty clear level right AT the area NRXP stock is trading at after this news. Around $12.70 was a previous area where the stock tested but didn't break below. Now, since breaking below, this seems to be a level that it can't break above. However, after the news came out, NRXP has treaded water between 11.50 & $12 in a consolidation trend during the 7/19 session. Volume will be something to keep an eye on moving forward in deciding which way it will break. "Shares of NRXP were also going against the grain of the broader biotech trend at the start of the week. NRX Pharmaceuticals (NRXP Stock Report) announced that it will present data at the Disease Control and Prevention Summit this week. Wednesday (7/21) the company provides evidence that its YESAMI treatment might help prevent “cytokine storm” in patients with COVID-19.
According to the company, 'In the recently-completed phase 2b/3 trial, patients treated with placebo experienced a statistically significant elevation in interleukin 6 (IL-6) cytokine levels, whereas those treated with ZYESAMI™ had a minimal increase in IL-6. Change in cytokine level was a prespecified endpoint of the study.'”
Quote Source: Small-Cap Stocks To Watch After CYTK Sheds Spotlight On Biotech
