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Prime Position For Another Big Leap
Good Morning
Looks like the market is eager to BUILD on Fridays stunning gains, which gives me that updraft I wanted to get an old friend back on your screen.
TapImmune Inc. TPIV has been a good friend to traders who figure out its cycle from oversold to full-fledged rally.
Weve ridden our share of 2-digit action on that cycle in the past. Now that the market seems eager to cooperate, TPIV is right where it needs to be
And if the lift comes today, theres BIG head room on the far side
TPIV is on the fast track to cancer vaccines, most recently getting an FDA with an ovarian cancer cure.
Thats amazing enough for a $0.50 start-up, but it shows that the stocks in our world can play with the big boys now and then
Of course drug development takes years even on the fast track, so Im not betting on TPIV becoming a gazillion-dollar giant today or even this week.
Where TPIV gets interesting is that long pattern on the chart. I pulled back to 6 months so we can see the last time I got it in front of you
That was back in early August, before the world caved in for biotech in particular. Since then, the giants have been on the run, okay.
But take another look at TPIV the bottom has more or less HELD around $0.46 except for a month ago when the whole market was buckling.
And those bottoms in the $0.46-$0.50 zone were accompanied with dips on the RSI to around 30-40 points, which is getting into oversold territory.
Thats roughly where the price action and RSI closed on Friday, so if today lines up to the past, we could have some FUN here.
Why am I so gung-ho Look up there again. Every RSI dip was followed by a multi-day rally within a very SHORT period of time
The biggest surges were in the 40%-70% range and took about 2 weeks apiece to play out. But even the little hops added up nice.
In theory, all it takes to get that hop is the natural TPIV cycle, running the channel from bottom to top. Of course NEWS always helps
TPIV is on the fast track on ovarian cancer. Theyve also got on the breast cancer goal, plus smallpox and other viral diseases.
One program seems to be already with encouraging results. Another is still gathering long-term data.
Those trials might earn a headline here and there in the very near future. Meanwhile theyre tickling the occasional .
And if biotech gets the bulls back behind it, theres nothing keeping TPIV from a pure passive lift. The sectors down 21% YTD as it is
Add it up, today is going to be about chasing the names that can work HARDEST as traders start digging out of the market rubble.
I think TPIV can make that cut. Its proved it can rally on the right day and now the head room is truly tempting.
Time to TRADE
Sincerely,
Michael Reef
yourstockguy
