After alerting EVFM as one of the top gainers yesterday showing MASSIVE short squeeze potential, the stock saw a major run-up overnight and continues to climb up investors’ watchlists. Today, we’re diving deeper into this promising stock along with another rising penny stock star in the biopharma world – Immuron Limited (NASDAQ: IMRN). Wanna get in on penny stocks with major potential before they even run? Sign up here & get free real-time alerts straight to your inbox.
EVFM Penny Stock On A RUN!!
Once again, EVFM continues to dominate the top gainers’ list of the day – proving major gains to many investors as speculation of a potential short squeeze pushes the stock to new highs. Aside from its high short interest, Birth control specialist Evofem Biosciences has seen its PPS skyrocket ever since the Supreme Court’s ruling of the reversal of abortion rights.
Now that the company has a patent application that covers the matter composition of its flagship product – Phexxi – Evofem will solely have the right to make, market and sell the product for any commercial purpose. With this in mind, CEO Saundra Pelletier believes –
This patent allowance is a clear nod to the innovation Phexxi brings to contraception and a woman’s ability to protect herself from unintended pregnancies.”
In light of ongoing global events and the recent court ruling, this patent – along with the product’s other 40 patents – will allow the company to capitalize on Phexxi and market it to women across the United States as demand continues to grow by the day. As a result, EVFM penny stock could quickly become a lucrative investment with huge long-term potential.
Following its recent run-up, EVFM is now trading at its newly formed resistance of $1.52 with support at .9 and another at .37. The MACD has been fluctuating ever since its sharp downfall on June 27th. Meanwhile, the MACD is bullish but seems poised for another crossover soon. Similarly, the RSI is trending upwards and is now holding at 76 – indicating the stock is extremely overbought.
Since we alerted it, EVFM saw a 42.1% increase overnight, and investors are expecting this run-up to continue for the coming weeks. However, with a high RSI indicating the stock is overbought, it is highly likely that EVFM could retest its support before embarking on a new run in the near future. Meanwhile, it is unclear whether the short squeeze will actually take place now but the short interest remains high. For this reason, bullish investors could secure a starter position now and average up on their investment as the stock continues to rally.
IMRN Penny Stock Showing POTENTIAL!!
As a biopharma company, Immuron Limited (NASDAQ: IMRN) is known for developing and commercializing oral immunotherapeutics for the prevention and treatment of gut-mediated pathogens. Recently, the company announced it has received notification of the Intent to Grant a European Patent for compositions and methods for the treatment of Clostridioides difficile-associated disease (CDI).
CDI – the disease of the large intestine – is caused by toxins produced by the spore-forming bacterium and can also result in serious disease complications that prove fatal in most severe cases. Over the past couple of years, increases in the frequency & severity of CDI have spread across the world, accompanied by an increased risk of community-associated CDI.
As of now, CDI affects on average up to 1.2% of hospitalized patients in the US – representing an estimated annual cost of $4.8 billion. Meanwhile, in Europe, the estimated cost is almost 3 billion and is likely to increase exponentially over the next couple of decades. With this in mind, this patent could pave the way for lucrative gains for the company in the near future.
After retesting its 2.23 support, IMRN is now trading at $2.49 with a resistance near 2.92 and another 3.35. Accumulation has been steady and the MACD is bearish but is approaching a bullish crossover. Meanwhile, the RSI is at 55 and continues to trend upwards. If you missed out on EVFM’s recent run-up, IMRN could be your chance to get in on the major gains in this explosive market.
Since its trading near its support with a stable RSI, bullish investors could find now a good entry point on IMRN ahead of its catalysts playing out. As the company releases more news regarding its upcoming plans, IMRN could retest its resistance sooner than expected. Stay alerted on IMRN and other top gainers on NYSE & NASDAQ.
BOTTOM LINE
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Disclosure: We have no business relationship with any company whose stock is mentioned in this video. Viral Stocks is not an investment advisor and this video does not provide investment advice. Always do your own research, make your own investment decisions, or consult with your nearest financial advisor. This video is not a solicitation or recommendation to buy, sell, or hold securities. This video is our opinion and is meant for informational and educational purposes only and does not provide investment advice. Past performance is not indicative of future performance.
