ABIO Bullish Divergence.
Hello,
What is ABIO?
ARCA biopharma, Inc. (ARCA) is a biopharmaceutical company. The Company is principally focused on developing genetically-targeted therapies for cardiovascular diseases. The Company's lead product candidate is Gencaro (bucindolol hydrochloride), a beta-blocker and mild vasodilator that the Company is evaluating in a clinical trial for the treatment of atrial fibrillation (AF) in patients with heart failure with reduced left ventricular ejection fraction (HFREF). Gencaro is considered part of the beta-blocker class of compounds because of its property of blocking both beta-1 and beta-2, receptors in the heart. The blocking of these receptors prevents the receptor from binding with other molecules, primarily the neurotransmitter norepinephrine (NE), which activate these receptors. The Company is conducting a Phase IIB/III clinical trial of Gencaro, known as GENETIC-AF.
This chart was not easy to do because I got stuck on its all-time high, check the snapshot below. Anyways, we do have a divergence at play but it seems to be in a little correction and I suspect it is going to test support before going up. If you look at the chart I have located the possible bounce area marked with a dotted horizontal ray. How high can it go is the question and I leave that to you the reader to decide.
Be sure to comment, follow, like, and check out my profile for more trade ideas!
Good Luck, Cheers!
What is ABIO?
ARCA biopharma, Inc. (ARCA) is a biopharmaceutical company. The Company is principally focused on developing genetically-targeted therapies for cardiovascular diseases. The Company's lead product candidate is Gencaro (bucindolol hydrochloride), a beta-blocker and mild vasodilator that the Company is evaluating in a clinical trial for the treatment of atrial fibrillation (AF) in patients with heart failure with reduced left ventricular ejection fraction (HFREF). Gencaro is considered part of the beta-blocker class of compounds because of its property of blocking both beta-1 and beta-2, receptors in the heart. The blocking of these receptors prevents the receptor from binding with other molecules, primarily the neurotransmitter norepinephrine (NE), which activate these receptors. The Company is conducting a Phase IIB/III clinical trial of Gencaro, known as GENETIC-AF.
This chart was not easy to do because I got stuck on its all-time high, check the snapshot below. Anyways, we do have a divergence at play but it seems to be in a little correction and I suspect it is going to test support before going up. If you look at the chart I have located the possible bounce area marked with a dotted horizontal ray. How high can it go is the question and I leave that to you the reader to decide.
Be sure to comment, follow, like, and check out my profile for more trade ideas!
Good Luck, Cheers!
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