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.
Moleculin Biotech, Inc., a clinical-stage pharmaceutical company, focuses on the development of oncology drug candidates. Its lead drug candidate is Annamycin for the treatment of relapsed or refractory acute myeloid leukemia (AML) and lung-localized tumors. The company’s flagship immune/transcription modulator is WP1066, a STAT3 inhibitor, which is in Phase I clinical trial for the treatment of brain tumor, as well as to treat pancreatic cancer, AML, and glioblastoma.
