I’ve been watching this chart for a little while now. It’s been an absolute shipwreck. I remain neutral but it’s high on my watchlist. Watching for signs of strength, we are not quite there yet.
The chart reflects the lack of enthusiasm from investors, this company doesn’t generate revenue but are very close to breaking into the duopoly that is the GLP1 market, subject to their phase 3 trials. So things could change rapidly.
Viking Therapeutics VKTX announced that it has initiated the phase Ill VANQUISH program, evaluating the subcutaneous (SC) formulation of its experimental obesity drug VK2735 in adult patients with or without type Il diabetes. This is bullish news.
Technicals continue to look weak, the grand supercycle is over, that remains a reason not to get immediately long, wait for a sign of strength. Keep an eye on this as it could be easily do a 3-5x if their trials are successful, they’d become an acquisition target, if not even before then.
Not financial advice
The chart reflects the lack of enthusiasm from investors, this company doesn’t generate revenue but are very close to breaking into the duopoly that is the GLP1 market, subject to their phase 3 trials. So things could change rapidly.
Viking Therapeutics VKTX announced that it has initiated the phase Ill VANQUISH program, evaluating the subcutaneous (SC) formulation of its experimental obesity drug VK2735 in adult patients with or without type Il diabetes. This is bullish news.
Technicals continue to look weak, the grand supercycle is over, that remains a reason not to get immediately long, wait for a sign of strength. Keep an eye on this as it could be easily do a 3-5x if their trials are successful, they’d become an acquisition target, if not even before then.
Not financial advice
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.