Lowtrade, here's one I thought you might like. AMPE Ampion Pharma
First, the technicals. Daily chart is a beaut, trading up above bollingers and then plummeted straight down underneath of them over the course of a few days due to panic selling. Then yesterday, we see a bullish haramachi candle has formed. The only other haramachi in the last year was a bearish haram on 10/25/13 daily chart that signaled a strong bearish move to the downside. Not sure if that is a great indication of next week, but it's something.
The catalyst that caused this is very interesting. Apparently they are performing a study on their developmental drug, Ampion, which is intended to relieve osteoarthritis pain. (Right up your alley, hah!)
After the drug had already been administered to study participants, Ampion discovered that the specialized shipping company had allowed 70% of the drug to freeze in transit which, according to them, can greatly effect drug efficacy. The shipping company was contracted to keep the drug in temperature range and failed to do so, according to Ampion. The kicker? The clinical trial site has not yet released the results to Ampion or anyone else. I see they have other smaller studies behind them with positive outcomes.
They released a reassuring letter to shareholders which created the bullish haramachi we see formed on Friday. My guess is that we will see a reversal starting on Tuesday and some grinding north.
Now if the test results do happen to come back positive (not sure of the release date) this would likely turn into a 100% gainer. Keep your eyes peeled.
AI
