MGRX Biotechonolgy IPO LONG

2023년 4월 29일

MGRX a recent IPO produces a med for erectile dysfunction without FDA approval;

They are basically selling a generic version of an approved medication and bypassing

the patent protections and betting they will fly under the regulator radar apparatus.

As might be expeted this recent nano-IPO is highlly volatile. Play with it only

if you have the requisite skills to do so and only with risk capital.

it does the marketing through direct to consumer telehealth services.


>>>>>>>>>>>>>>>>>>See also the link below <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<

On review and analysis on the 30 minute chart, the price action is squeezing

down in a flat bottom triangle likely setting up a breakout upside.

The RSI oscillator shows RSI crossing 50% from below.

Volatility is compressing down inside the triangle for a squeeze set up.

Targets are based on the supply and demand zones of the Luxalgo indicator.

The first parget is the midline between the zones while the final target

is just below the supply zone. As can be seen on the chart, the first target

is about 100% upside while the final target is 200% upside. One of the

position is closed at each target making the return 150% overall.

Stop loss is below the demand zone. A stop loss is 15% yields an overall

reward to risk ration of 10:1.