Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading
Shares of 4d Pharma PLC (LON: DDDD) are down 34% from their February highs and are currently trading at the 100p support level. Can the level hold, or will the shares keep falling?
Unfortunately, the biotech company’s shares appear likely to keep falling given the strength of the last few days’ bearish candles, but buyers may get some relief soon.
4d Pharma shares are trading at the 100p support, which could hold, but there are no signs yet that the bulls are about to take control of the price given the bearish daily candles.
However, if the support level does not hold, the price could fall to the 87p support level, which I expect to hold and trigger an uptrend once it does.
4d Pharma is a pioneer in live biotherapeutics and has made immense progress in developing various treatments based on the microbiome for cancer and other autoimmune diseases such as Parkinson’s’ disease.
The company’s drug candidates are in various stages, with one cancer treatment going through phase II clinical trials and three others in phase I clinical trials.
These drugs could generate significant revenues for the company, given that they are based on breakthrough technologies if they reach the commercial stages. Results of the phase II cancer trial are expected in June this year.
4d Pharma has multiple partnerships with big pharmaceutical companies collaborating with it on some of its therapies, increasing their chances of success.
While we cannot predict how far the biotech company’s shares are likely to fall, I’ll keep a close eye on the stock for signs that the current downtrend is over.
4d Pharma share price.
4d Pharma shares are down 33.9% from their February highs. Will they keep falling?
4d Pharma (DDDD) shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are 4d Pharma shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
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