SLRX Overbought
Hello,
What is SLRX?
Salarius Pharmaceuticals, Inc. a clinical-stage biotechnology company, develops epigenetic-based cancer treatments. The company's lead candidate is Seclidemstat (SP-2577), which is in Phase I/II clinical trial for the treatment of advanced solid tumors, including prostate, breast, and ovarian cancers, as well as Ewing sarcoma. Salarius Pharmaceuticals, Inc. has a strategic partnership with The University of Utah Research Foundation for the exclusive license with respect to patent rights protecting SP-2577 and related compounds; HLB Life Sciences to develop, produce, manufacture, use, and sell the drug in South Korea; and Cancer Prevention and Research Institute of Texas for product development activities. The company is headquartered in Houston, Texas.
News
My Thoughts For You
We have retested resistance 3 times in overbought conditions. I suspect a retracement then a continuation towards resistance level 2, from here we will see a correction testing support and resistance in the form of a 3 wave ABC correction, I suspect that C wave will be 100% of wave A and that brings the price at support level 2.
Keep an eye on the current resistance because we may breakthrough to complete wave 5 then the ABC correction will follow, either way the price is going to be in a correction.
Good Luck, Cheers!
Be sure to comment, follow, like, and check out my profile for more trade ideas!
What is SLRX?
Salarius Pharmaceuticals, Inc. a clinical-stage biotechnology company, develops epigenetic-based cancer treatments. The company's lead candidate is Seclidemstat (SP-2577), which is in Phase I/II clinical trial for the treatment of advanced solid tumors, including prostate, breast, and ovarian cancers, as well as Ewing sarcoma. Salarius Pharmaceuticals, Inc. has a strategic partnership with The University of Utah Research Foundation for the exclusive license with respect to patent rights protecting SP-2577 and related compounds; HLB Life Sciences to develop, produce, manufacture, use, and sell the drug in South Korea; and Cancer Prevention and Research Institute of Texas for product development activities. The company is headquartered in Houston, Texas.
News
My Thoughts For You
We have retested resistance 3 times in overbought conditions. I suspect a retracement then a continuation towards resistance level 2, from here we will see a correction testing support and resistance in the form of a 3 wave ABC correction, I suspect that C wave will be 100% of wave A and that brings the price at support level 2.
Keep an eye on the current resistance because we may breakthrough to complete wave 5 then the ABC correction will follow, either way the price is going to be in a correction.
Good Luck, Cheers!
Be sure to comment, follow, like, and check out my profile for more trade ideas!
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