BioVie volume spikes that signals EMA10 possibility.
The company announced the completion of its direct offering, raising $6.66 million through the sale of 4.4 million shares at $1.50 per share. Also they issued unregistered warrants for an additional 4.4 million shares, exercisable in 6 months at $1.37 per share, with proceeds primarily supporting working capital.
There is remarkable volume increase as a result. Historically, each spike in volume has encountered resistance at EMA10 weekly. While the stock remains ultra-highly volatile, a price above $9 does not seem impossible at this stage.
There is remarkable volume increase as a result. Historically, each spike in volume has encountered resistance at EMA10 weekly. While the stock remains ultra-highly volatile, a price above $9 does not seem impossible at this stage.
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Earlier, I mistakenly referred to the weekly EMA50 instead of EMA10. Correcting this, the potential target is now the weekly EMA40, currently around $8.77.
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