ALGERNON PHARMA & CYTODYN PROFIT TAKE...

originally published Monday, April 27, 2020

All Biotech & Medical Stocks

Further to the Email alert sent out earlier at about 12.25 pm EDT that read as follows…

“Thought best to take profits in these two ASAP. Both are close to earlier highs where they could reverse. We are up 23% on Algernon (AGN.CSE, C$0.47) and 53% on Cytodyn (CYDY, $3.48) in a week. Brief update with charts on site later today. Meanwhile our Datable tech (DAC.CSE C$0.045) is up 50% this morning.

Due to continual Fed pumping the broad market is moving against us, and later we will consider whether to temporarily stand aside from our short positions.”


The charts for these two making clear why we are taking profits here are presented below. Basically it is because of the risk of them forming a Double Top with their earlier highs, in the case of Algernon with its highs of about 2 weeks ago and in the case of Cytodyn, with its highs of late March / early April, which is increased by the risk of the broad market rolling over this week.


We may buy these stocks back later as their longer-term prospects remain bright.

End of update.


Posted at 1.35 pm EST on 27th April 20.

The above represents the opinion and analysis of Mr Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stockmarket analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.