Trade Setup
Stocks found in this category are low priced stocks priced between .50 and $1, with at least 50k shares of average shares trading per day. The stocks are pausing a trend either up or down, with a new bar over the prior day open or close. These are high reward to risk stocks with the potential for very sharp moves. A stop should be maintained at the low of the prior day. Target prices for exits can be determined by using the next level of resistance higher or by using Fibonacci resistance levels found using TradersPro.
Innovation Pharmaceuticals Inc., a clinical stage biopharmaceutical company, develops small molecule therapies to treat inflammatory diseases, cancer, dermatology, and anti- infective. Its’s lead drug compound is Brilacidin, which is in Phase III study for the treatment of oral mucositis, inflammatory bowel disease, and acute bacterial skin and skin structure infection.
