$PRAX Getting ready for strong move After a long consolidation NASDAQ:PRAX appears ready for a move higher to 80. Not financial advice.
PRAX trade ideas
PRAX Analysis after new securities sales, and recent agreements8791877 = Shares as of 31st December + New sales to BCPE
@
initial book value of 10.12 + (443k shares @ 22.56)
= 10.832665237 new book value
+
approx 4230000 of shares and warrants sales approx near @33.5
= approx 18.84$ / share
+ $5M in cash payment
= 19.22$ / share
Total Shares = 13021877
Anticipated quarterly loss between 2 to 3$ per share
264M$ on milestone achievements for development, regulatory and commercialization
(subject to milestone achievements)
Let's say milestones achievements takes between 6 mos to 2 years as follows:
1) 6 months scenario - development
= loss of approx 4-6$ per share
= +88M for development milestone achievement
= -5$ loss + 19.22 + ( FWB:88M if milestone is achieved)
= 20.597$ with milestone
= 14.22$ without milestone
2) 1 year scenario - development+regulatory
= loss of approx 8-12$ per share
= +132M for development+regulatory milestones achievement
= -10$ loss + 19.22 + ($132M if both milestones are achieved) + (or FWB:88M if only one milestone is achieved)
= 9.22$ without any milestone
= 15.97$ with one milestone
= 19.35$ with both milestones
3) 2 years scenario - dev+reg+commercialization
= loss of approx 16-24$ per share
= +264M for development + regulatory + commercialization milestones achievement
= -20$ loss + 19.22 + ($264M with 3 milestones) + (or $132M with two milestones) + (or FWB:88M with one milestone)
= -0.78$ with no milestones
= $5.97 with one milestone
= $9.35 with two milestones
= $19.49 with all 3 milestones
These calculations assume there's no other additional securities sale than above.
PRAX Cup and HandlePRAX is forming a pretty clean cup and handle on the 65min chart. It also just filled a gap to the upside from March 2023. Been riding above the EMAs and the 50 just crossed the 200. RSI near overbought, but I view that as a sign of strength in this case. A clean break on volume above $46 could see this nearly double, quick.
$PRAX says - I'm sexy and I know it!13.8$ being yesterday's high, today it registered a new 52 week low of 12.71 and rebounced 9% already,
Also rebouncing from the daily RSI level as low as around 24.4 up to 38.38 so far!
Should the stock close above 13.8$ today, that's a Strong indicator of the trend reversal to the upside!!!
Failed Double Bottom: Small vs Large Chart PatternsIn this example on the PRAX Daily Chart, you see a bullish double bottom fail to extend to new recent highs due to it being a part of a larger bearish pattern.
It demonstrates that the typical behavior of chart patterns can fail to produce their typical results if found within larger chart patterns.
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$PRAX is giving a GREAT IPO LONG opportunity todayIPO intraday trading strategy idea
Praxis Precision Medicinesis is a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system disorders characterized by a neuronal imbalance.
The share price is rising and gonna continue this trend today.
The demand for shares of the company still looks higher than the supply.
These and other conditions can cause a rise in the share price today.
So I opened a long position from $27,50;
stop-loss — $24,23;
take-profit — $37,31.
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
Always do your own analysis before making deals. When you use any materials, do not rely on blind trust.
You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.
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