Trade Setup
Oyster Point Pharma, Inc., a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of pharmaceutical therapies to treat ocular surface diseases in the United States. The company’s lead product candidate is OC-01, a nicotinic acetylcholine receptor agonist that has completed Phase III clinical trial for the treatment of signs and symptoms of dry eye disease. It is also developing OC-01 for neurotrophic keratopathy.
The stocks founds in the TradersPro Alerts category use a fixed entry and exit point using fibonacci analysis. It is a confirmation strategy that waits for the stock to make a move then a trader enters the trend at specific prices. The .382 fibonacci level of the prior trend is the entry and the .618 is the exit, with the stop loss under the swing low. This typically creates a 1 to 1 reward to risk with a high probability of success. To learn more about the fibonacci snap tool and this strategy you can go here.
