I’m betting that it is.
Let’s start with the weekly chart:
Last week breakout bar had massive volume of 23 million shares; while the inverted hammer candlestick of last week was not convincingly bullish; this week up bar clear up last week indecision. Today is only the 2nd day of the week and volume has already exceeded half of last week.
Below is the daily chart:
The uptrend looks more straight forward than the weekly chart since you are not looking at the inverted hammer candlestick bar.
The monthly chart below gives you an idea of the possible resistances and potential of future price action.
Did you see how price action has finally broken out of a 2 years consolidation period (from mid-2011 to now)? Remember the old saying, “the longer the consolidation period, the more powerful is the breakout?” Does this old saying apply to $INO?
I’ve placed my bet that $INO can be the mother-of-all biotech speculation with a high reward/risk ratio at this level.
Fundamentally speaking, $INO is pushing synthetic DNA vaccines into the new frontier of biotech discovery. $INO has come a long way in researching on this field and 2013-2014 may be the years of acknowledgement that this science actually works (or not). So far, the data are encouraging; however, the caveat is that these data are from preclinical and Phase I results. Between now and 2014, results from various Phase I to Phase II trials will either propel $INO to much higher price or send it back to oblivion.
The risk is high and so is the reward. If there is such a thing as mother-of-all biotech speculation, this is it. And this is definitely not for the faint of heart.
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