BioPorto tested EMA20 line and started to go up in price again - Stock tips and tricks
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BioPorto tested EMA20 line and started to go up in price again

BioPorto tested EMA20 line and started to go up in price again

For the last 2 weeks, BioPorto has been in a downtrend, just like most other stocks and stock indexes. But now it seems like the trend has changed.
Even though that the last 2 weeks have been negative, the RSI has remained above 50 line. To remain above 50 line indicates that the price is still strong. Now we see RSI start to rise again and the price was testing EMA20 successfully.

Can this be the start of a new uptrend and will we see a new all-time high within February?

Chart showing how BioPorto tested EAM20 line and started to go up in price again.

BioPorto tested EMA20 line and started to go up in price again

One of the Danish stocks that have attracted a lot of attention during the corona crisis is BioPorto.

We are talking about a small, Danish biotech company with almost 30 employees, a turnover of DKK 27 million. DKK in 2019 and a market value of just over DKK 1.5 billion. However, the ambitions do not fail at the company, which is based in Hellerup north of Copenhagen.

“This is a fantastically exciting company that can become something very big if we succeed in what we are doing,” says BioPorto’s CEO Peter Mørch Eriksen in a major interview with Euroinvestor. This is done with reference to the fact that two of the company’s most important assets are facing decisive approval in 2021.

Independent researchers at the American university UC Davis are currently investigating how good BioPorto’s test is to detect whether one has been infected with covid-19. This is a virus test that can test if you have corona.

BioPorto expects something new already in the first quarter of this year. If everything is as it should be, BioPorto will apply to the FDA for a so-called Emergency Use Authorization (EUA), so that BioPorto can get ahead of the queue and get the test into the market quickly.
Happy trading

Read more about Gravity Testing EMA50 line – Will Gravity rise from here?

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Frank Egsgaard-Fjord
frank@e-fjord.dk