🌊A sea of red? Not for this stock 📈

Editor's note: Hey folks, check out what happened with this stock Jason Bond pointed out yesterday morning – pretty impressive especially as the Market absolutely TANKED yesterday. *Sponsored by Lifewater Media, see disclosures below Good morning! Yesterday, I introduced a brand new biotech stock idea to you – IKT. I did a lot of homework on this one and I was really happy to see how the stock performed… At one point, the stock made over a 25% move higher from the opening trade! This was pretty exceptional because if you remember the market fell off a cliff before the open. It was a very tough trading day, but IKT fought like a champ. A big driver was likely the news they dropped prior to the market open… After that huge initial rally that lasted past lunchtime, the stock pulled back and closed at a sane level. I would urge you to keep it on your trading radar. If you go back and look at the price action over the last few months, you’ll notice that it has had some violent moves higher at times. I really like this one. I’ll be keeping it on my watchlist. If you missed the email I sent yesterday, I copied it below so you can revisit it. Have a great day! ______________________________________________ My focus stock today is [Inhibikase Therapeutics]( – (IKT) If you trade small caps, you have probably noticed it this week. Even with the wild moves the market has had, this stock has been quietly making steady gains the last few days. For a stock barely trading under $1, there is an enormous amount of promise that I think the market is overlooking. Let’s start with something that most microcap companies have very little of – cold, hard cash. 💰 IKT, however… is loaded with it.  As I was digging into the details on this company, I noticed Yahoo Finance reports that IKT has $1.05 per share in cash on the [balance sheet](, as of their last filing which was last year (I’ll come back to this point in a moment). While, $1 per share might not get you too excited, consider that this stock is trading under $1 right now. IKT also has a miniscule amount of debt on the books, so it appears that this stock is actually trading under book value. (1) Ok, back to the fact the last statement was from last year and IKT was recording that whopping cash figure. As I kept reading, I noticed that IKT added another roughly $10M in cash in early February this year. (2) So get this, while there isn’t an updated financial filing yet, we know they packed another $10M on an already pristine balance sheet since the last report. IKT is locked and loaded… and ready to go to war! I can’t even believe I am talking about a balance sheet when it comes to a sub-$1 stock, but it’s just so crazy, I had to point it out. Ok, so why the [hoopla with the stock price]( the last few days?  Well, I think it has to do with this overlooked headline from last week… 3) - I don’t want to get too in the weeds on the situation, but a few months ago, IKT reported that the FDA was putting the brakes on a key candidate of theirs.  - - Then out of the blue last week, IKT announced that the FDA reversed course, and lifted the full clinical hold on its lead candidate IkT-148009 targeted at neurological disorder multiple system atrophy (MSA). - - The decision allows IKT to move forward with its plans for a future Phase 2 clinical trial for IkT-148009 in MSA, a rare disease impacting about three individuals per 100,000 aged 50 years or older annually. - - IKT also said that it is advancing two model studies for the candidate. Citing early data from one of the studies, the company said that the candidate has indicated "a substantial neuroprotective benefit," given its mechanism of action for Abelson Tyrosine Kinase inhibition. IKT’s pipeline is impressive, tacking neurodegenerative diseases such as Alzheimer’s that have a [significant Total Addressable Market]( (TAM) and IKT has forged partnerships with the National Institutes of Health (NIH) and the Micheal J. Fox Foundation for Parkinson’s Research.  Well, if Alex P. Keaton is in, I know I’m interested! (If you have to look up this reference, don’t bother. You’re either an 80’s kid, or you’re not!) Like I said, when it comes to the recent price action, IKT is really heating up lately. IKT came back to life in January, where it shot up over 100% in just that month alone. It then pulled back and has been in a [quiet consolidation phase for almost 2 months](. Since that updated news came out last week, things have been hitting another gear. We’ve seen some nice gains for the stock while volume has been picking up considerably. IKT has had an upper range of around $.80 since January. It is starting to poke it’s head above that level now, and if it continues to hold it, then I think it is a very interesting set up to keep an eye on. As I point out often, former resistance levels often become future support levels. Small biotech stocks like IKT can be a gold mine since the big boys are always on the hunt for the next blockbuster drug that they can bombard sports fans with via waves of commercials during games.  From couples sitting in adjacent outdoor bathtubs (weird) to sampling 60s oldies songs (annoying), “Big Pharma” has the marketing ammo to spend, so they need to fill the pipeline with products to push. It is way too early to speculate on buyout possibilities here, but I think it is important to note that the appetite for larger companies to make acquisitions is warming up. After a drought all year, we just saw the first biotech acquisition of the year on Monday this week…(4) While you could have picked up Provention in the $3 range last summer, the stock is now trading near $24 after the buyout news. Pretty exciting stuff can happen in this sector when a small company has something a larger one wants. How about the technicals on IKT right now? Doing a quick check on Tipranks for their opinion looks great to me. Can’t get much better than [technical buy signals]( all around (5)… Then flipping over to Barchart looks very similar for their short-term indicators (6)… Then rounding it out, I went over to Tickeron to see what their [price analysis looked like…]( Bullish Trend Analysis The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. 24 of 31 cases where IKT's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend: 77%. The Momentum Indicator moved above the 0 level on March 13, 2023. You may want to consider a long position or call options on IKT as a result. In 31 of 38 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend 82%. Following a +18.08% 3-day Advance, the price is estimated to grow further. Considering data from situations where IKT advanced for three days, in 77 of 93 cases, the price rose further within the following month. The odds of a continued upward trend 83%. IKT may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options. (7) So, there you have it. Gobs of cash, great catalyst event with FDA trials, and a stock chart that is really starting to heat up. I think IKT has it all and is worth having on your trading radar right now. While I bring up a lot of good points in this email, you should always do your own research of course. A good place to start by visiting the [company’s website]( and learning more about the opportunities and risks involved here. Good luck trading today! Sources: - [ - [ - [( - [( - [( - [( - [ [👀 See Who Just Passed 3 Million In Private Investing 👀]( * sponsored content [🧾 Talk Is Cheap. 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