most of wtaworld are student tards who don't even have a credit card never mind a broker account)
anyways, the company is Biopure which is traded on the NYSE and the stock symbol is BPUR
i'm looking to go long on this one for six months, maybe shorter
my target price is 20 bucks, BPUR is currently trading at $5.71 and will probably fall to about $5.50 in the next few days. That's when i plan to enter the trade
heres the Technical Analysis from Fuckstock Boi:
It looks OK to me - inverted h&s in the broad bottoming pattern, just had a pullback, no divergences of note, strong support just under $5.50. Since beginning of May the stock has formed some nice Elliott Waves, and looks as if it is currently forming a flag, suggesting more
upwards movement to come. There will be strong resistance at around $16 and $14-ish (the scaling isn't wonderful on TC2000, and I can't be bothered to wind up my intraday software I'm afraid).
Volume has recently picked up, and by the looks of things the two large volume bars at the end of May on the weekly chart were longs (ie, no big drop after them, so they can't have been shorts).
That's what I see from have a quick peep at the daily and weekly charts.
which to be honest, means jack shit to me, i trade a stock on the fundamentals, not on the math of it's chart
it's a dangerous play but here's the deal, and i'll start off with the bad. Biopure is a $265m company with $2m in trailing revenue and bleeding red ink like there's no tomorrow. Basically they're in desperate need of cash to keep going. Everything is gonna hinge on a new artificial blood product that is awaiting FDA approval. Now obviously their revenues will be low until it gets approved by the FDA, because without it, they don't have jack shit
now here's the good. I've been told that there have been some amazing test results in 3rd world countries. Biopure's blood oxidizes ten times faster than normal blood. It also should help concerns over aids and blood shortages blah. The US is now taking the aids threat in Africa very seriously as shown by Bush's recent ass-kissing African tour. He's promised a $15billion aid package to combat aids. This product could take a prominent role in that fight against aids in years to come...
Their artificial blood should be approved by the FDA within 6 months at the worse, but hopefully as early as end of August when a decision is expected. The FDA requested an extension to decide whether or not to approve it. There has never been a case where the FDA has requested an extension and not approved a drug. Furthermore, a little chick has told me that the company are so confident that they are already in heavy production of the blood, even though it hasn't been officially approved
as i said, it's highly speculative and dangerous, but the upside is enormous. These are the kind of plays i like
that is all
- Car Key Boi