Infinity Pharmaceuticals (INFI) Stock Chart Review
As requested by a Trendy Stock Charts member through email, let's do an Infinity Pharmaceuticals (INFI) stock chart review. This is a quick synopsis of the company per the member:
They are a very small co. focused on small molecule treatment for oncology, Last year or so they partnered with AbbiVie for a promising drug "Duvelisib" but it collapsed after some disappointing results and when AbbiVie pulled out.Now they have a new one "IPI-549" and partnered with Bristol-Meyers Squibb. The compound is for solid tumors who become resistant to immune therapy? Phase one sounds promising. That is INFI in a nutshell.
If the company sounds interesting to you, then check out their official website here.
Well, let's take a look at some charts for this low priced bio-tech and see if there are any trade set-ups developing.
INFI - 20 Year Monthly Chart
The one risk for low priced stocks is when they need to raise capital. Because of the low share price, they tend to have to give away the farm if they become crunched for cash (see Sirius XM Holdings white knight loan from John Malone as a brutal example).
With that being said, this first chart for Infinity Pharmaceutical's (INFI) is a 20 year monthly candlestick chart to see what price levels its share price has traveled to in that time span.
This 20 year chart actually has about 17 years of activity. Since there are only 17 years of activity on a 20 year chart, I assume that INFI became a public company in July 2000.
I did not place any longer-term trendlines or other charting tools on the above chart as it is not yet feasible. I do not see any need to build any long-term expectations yet based on this chart. Let's review some shorter-term charts rather than longer-term.
INFI - Moving Averages
This next chart is a 1 year daily candlestick chart to analyze Infinity Pharmaceutical's (INFI) from a moving average perspective. It appears that over the previous 3 months INFI was trying to start a new uptrend after being in a downtrend for years.
INFI's share price just recently developed a Golden Cross pattern, a bullish signal indicating that INFI's downtrend is probably over, now its just time for a re-test of the bottom.
The 200 Day moving average line currently resides at the $1.78 price level. After breaking back above a 200 Day moving average, the share price tends to retrace and re-test the 200 Day moving average support.….
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I look at some pullback areas to begin building a position in the stock for both the shorter and longer-term. I also calculate some upside price targets for this risky biotech stock.
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Remember, every longer-term rebound needs to start with a successful re-test of a previous support area. Good news for the company, drug testing, or earnings always helps….
Thanks Joe for your quick and detailed analysis of INFI. I will wait patiently and try to get in as you suggested. Anyway it will not be a large amount as it is very risky.
Have a nice week.
You’re welcome Mugurel! Ask for an update at any time!