Shared by
beno
Fundamentals
As of: Sep 30 2019
Shares Outstanding: 31.9m
Cash: 2.1m
Current liabilities: 4.87m
Current ratio: 0.485
NWC (total current assets - total current liabilities): -2.5m
Monthly Burn rate (net cash used in operations / months): 1.29m
Estimated current cash: -3.06m
Accumulated deficit: 110m
Book value (Stock holder equity / Shares outstanding): -0.033
Catalysts / News / Painting the picture
Announces joint development of a coronavirus vaccine with Beijing CC-Pharming
Withdraws reverse split intentions
Needs cash
2020-02-28: S-3 for $100m, not in effect yet
Technical Analysis
-Weak morning
-Ripped all day after zombie hour
-Levels: 1.60, 2, 2.40
Original Plan / Strategy
FT-15 of 1.50 level with half dollar confluence
Review
Main loss of the day.
1.50 was a really nice level to short because there was confluence on the intraday 3m chart and on the 15m chart, stock also had a huge air pocket to $1. I lost and respected my stop but I would take this trade every day, sometimes they just don't work. A setup... (A+ if SSR would have been off)
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-03-04 10:53:41 | IBIO | sell | $1.490 | short |
| 2020-03-04 11:08:45 | IBIO | sell | $1.509 | short |
| 2020-03-04 11:10:14 | IBIO | sell | $1.537 | short |
| 2020-03-04 11:11:00 | IBIO | buy | $1.580 | 0 |
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