Sponsored by MYMD, See Disclosure Below Hey trader! Biotech stocks have been on fire lately! The IBB (iShares Biotechnology ETF) is recovering from a low of $106 and approaching $160. XBI (S&P Biotech Index) turned up off the low $60 zone to trade near $90, after a fall from $170s last year. When you add that to massive moves like; APDN rocketing over 480% in the last 5 daysâ¦GOVX rallying over 500% in a little over a weekâ¦and NVIV trading over 109% higher in the pre-market this morning⦠Itâs clear biotechs are squarely in the sights of traders again. But⦠One stock weâre particularly excited about is MYMD! Youâll see why. If you didnât know⦠Theyâre a pharmaceutical company that develop drug products to combat aging, age-related, and autoimmune diseases. After consolidating from last monthâs spike, MYMD is recovering and now trading near $4.30 (almost 10% higher in the last 5 days). The move came after news was released regarding a drug they have in development aimed at delaying some of the effects of aging. When trading penny stocks like this one, some key things we look for are indicators that hint at trend continuation. Letâs quickly go over two of those; First, the parabolic SAR â an indicator traders rely on to understand trend direction and potential reversals. It shows as a series of dots either above or below the stockâs priceâ¦depending on the direction the price is moving. Dots placed above the price indicate it is trending downward. But if the dots appear below the priceâ¦thatâs a solid bullish signal. After popping up above MYMD in the last few weeks⦠SAR dots are catching up to the price and just went under again today â which shows a bullish reversal is imminentâ¦just like at the start of July. Then again, SAR buy signals are a lot more convincing when the stock is trading above a long-term moving average. When we overlay a 100-day moving average on the chart⦠Itâs clear that MYMD is trading way above that $3.35 level, which confirms for us the bullish signal. All this sounds good, but for skilled traders, it makes sense to use different indicators to confirm a signalâ¦rather than relying on just one. A good one to pair with SAR is the Stochastic Oscillator (lower indicator on the chart below). It helps traders figure out if a stock is overbought (readings over 80) or if its oversold (readings under 20). There are two things to note here; If thereâs a divergenceâ¦when a stockâs price reaches a new lowest low or highest high, while the stochastic oscillator forms a higher low or lower high⦠Thatâs usually the first indication of a potential reversal. Divergence alone cannot confirm a reversalâ¦so itâs important to look at the oscillator level. If it breaks above 50 â which MYMD did two days ago â itâs more likely a reversal from a downward to upward trend will follow. MYMD also crossed oversold territory about a week ago. And based on past data, when this happens, it can indicate an increase in price. Weâre watching the stock closely and think you might want to as well. We believe thereâs a pretty good chance weâll see a breakout past $5, especially as we approach the August 15 earnings date.  62 Calef Hwy #233 Lee, New Hampshire 03861 United States Questions or concerns about our products? Email Support@ragingbull.com  © Copyright 2022, RagingBull - Refund Policy - Privacy Policy - Terms & Conditions  *THIS IS AN ISSUER-PAID ADVERTISEMENT, SEE DISCLOSURE BELOW*ISSUER-PAID ADVERTISEMENT. MyMD, Inc. 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