ADMA daily reversal on high volume
Daily price candle reversal to the upside on a 3X daily average volume (due to a large 2M buy order at 12:10pm EST) at major demand zone $3.20 - $3.37.
Double digit y-o-y revenue growth, improving quarterly earnings (EPS loss decreasing), EPS to turn positive by end 2024 or early 2025. Next catalyst is the Q3 earnings release in early Nov.
Related sector is Biotech. Using XBI ETF as reference, the sector is in the process of bottoming on high volume with positive divergence with RSI, although this process is not yet completed.
A more conservative time for entry is to wait till next week for signs of positive price momentum to show up in the weekly candlestick.
Double digit y-o-y revenue growth, improving quarterly earnings (EPS loss decreasing), EPS to turn positive by end 2024 or early 2025. Next catalyst is the Q3 earnings release in early Nov.
Related sector is Biotech. Using XBI ETF as reference, the sector is in the process of bottoming on high volume with positive divergence with RSI, although this process is not yet completed.
A more conservative time for entry is to wait till next week for signs of positive price momentum to show up in the weekly candlestick.
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