Algernon Pharmaceuticals Inc (AGNPF)

[bettingonbayst]

Here's how I *think* ALGERNON will play out:

As much of a debate as technical analysis is, especially in penny stocks, there are still a few things to note in my personal opinion. 1, AGN (CAD) bounced off it's macro uptrend line for the year yesterday at .24 cents cad. See below.



Point 2, in technical analysis, "symmetrical triangle formations" are common before significant news, and I believe we are in the midst of forming one here. See below:



Now to note, the apex of this triangle ends around November 15th. The current rate of enrollment suggests we receive news of "50% enrolled" end of September, in which we will receive an estimated last patient enrolled *mid* November, putting a Dara readout late December/early January.

Now my OPINION on CJM's famed "Point of Inflection". We have yet to see it. The market knows this is going to be months so capital is being used elsewhere for the time being. I fully expect we trade between .25 and .35 CAD til mid November, and my idea suggests that the apex of the symmetrical triangle will lead into a speculative breakout mid November/early December before a data readout. This will be the "point of inflection" our CEO talks about.

It all come down to the data. The market obviously doesn't trust the repurposed drug model, a likely reason why BELLUS was leagues ahead in valuation, and it's going to take very positive data to give us the market cap we all want. This is all my opinion, just trying to spark the think tank a little more.

B. O. B.