Premarket PRPO Stock News: Precipio Inc up more than 30%
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UNLOCK OFFER- PRPO shares jumped 172pc on Monday.
- Amazon (AMZN) offered the diagnostic company’s COVID-19 test on its platform.
- Without resistance, Precipio could rise to $7 a share.
After exploding 172pc on Monday, May 3, Precipio is riding up more than 30% in Tuesday’s premarket.
The catalyst for the vertical lift-off? Amazon (AMZN) launched PRPO’s rapid COVID-19 antibody test on the world’s biggest e-commerce website. The 20-minute test can only be purchased by medical practitioners and institutions but can be delivered in two days using Amazon’s logistics system.
The test is being sold under the trade name MidaSpot and is produced by US-based Nirmidas Biotech.
PRPO price forecast: Where to from here?
After Monday’s blast, PRPO shares easily eclipsed the February 9 local high of $4.24 and ended the day at $4.95.
Important to traders will be the fact that yesterday’s close coincides perfectly with the highs of July 31 and August 4, 2020, the first and third trading session after PRPO’s last crazy spike – which hit $8 on July 30, only to crater below $5 in the subsequent days and eventually trade down to $2 in the next nine months.
Will Monday’s euphoria once again quickly dim?
It is hard to say. With shares trading north of $5.70 in the premarket, and every daily moving average left in the dust, the next level up that bulls will aim for is $7, the close from July 30, 2020.
If this is surpassed, traders will target the high of last summer at $8.
If shares instead crater lower as happened in the previous hyper run-up, then bears will target the resistance-turned-support just under $4.
PRPO 1-day chart
At the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
This article is for information purposes only. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. It is important to perform your own research before making any investment and take independent advice from a registered investment advisor.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to accuracy, completeness, or the suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. The author will not be held responsible for information that is found at the end of links posted on this page.
Errors and omissions excepted.
- PRPO shares jumped 172pc on Monday.
- Amazon (AMZN) offered the diagnostic company’s COVID-19 test on its platform.
- Without resistance, Precipio could rise to $7 a share.
After exploding 172pc on Monday, May 3, Precipio is riding up more than 30% in Tuesday’s premarket.
The catalyst for the vertical lift-off? Amazon (AMZN) launched PRPO’s rapid COVID-19 antibody test on the world’s biggest e-commerce website. The 20-minute test can only be purchased by medical practitioners and institutions but can be delivered in two days using Amazon’s logistics system.
The test is being sold under the trade name MidaSpot and is produced by US-based Nirmidas Biotech.
PRPO price forecast: Where to from here?
After Monday’s blast, PRPO shares easily eclipsed the February 9 local high of $4.24 and ended the day at $4.95.
Important to traders will be the fact that yesterday’s close coincides perfectly with the highs of July 31 and August 4, 2020, the first and third trading session after PRPO’s last crazy spike – which hit $8 on July 30, only to crater below $5 in the subsequent days and eventually trade down to $2 in the next nine months.
Will Monday’s euphoria once again quickly dim?
It is hard to say. With shares trading north of $5.70 in the premarket, and every daily moving average left in the dust, the next level up that bulls will aim for is $7, the close from July 30, 2020.
If this is surpassed, traders will target the high of last summer at $8.
If shares instead crater lower as happened in the previous hyper run-up, then bears will target the resistance-turned-support just under $4.
PRPO 1-day chart
At the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
This article is for information purposes only. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. It is important to perform your own research before making any investment and take independent advice from a registered investment advisor.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to accuracy, completeness, or the suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. The author will not be held responsible for information that is found at the end of links posted on this page.
Errors and omissions excepted.
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