Last Updated on June 3, 2019 by Kevin Douglass
ZYNE #VolatilityWatch by follow_the_money on TradingView.com
Zynerba Pharmaceuticals (NASDAQ: ZYNE) announced 5/29/2019, initiation of phase 2 INSIPRE trial for its lead product ZYGEL. ZYGEL is a trans-dermal CBD gel. The ZYGEL trial is looking at efficacy of patients with defects of chromosome 22 ( 22q11.2 ).
22q11.2 deletion is an inherited pediatric condition with wide range of symptoms. Symptoms include emotional and mild behavioral issues to physical, psychological, and even heart and immune system problems.
According to Zynerba, top-line data results for INSPIRE are expected next year. Although I like ZYNE’s long term prospects, this pattern tends to repeat itself quite frequently, especially with volatility in broader markets during this time. Furthermore, with phase 2 just initiated it will likely be a couple months before the next data read, leaving more reason for investors and traders to go elsewhere. Not only do charts indicate further downside but I believe this will cause more sellers than buyers in coming months.
- Currently sitting at .382 retracement.
- Pullback to .50 retracement is ~$9.54 bringing puts in the money
- Looking for test of .5 retracement by end of month
- Technical’s indicate potential AB=BC harmonic retracement/ pullback.
I/ We own puts in ZYNE. This is not recommendation to buy or sell. Please be sure to do your DD before investing.
David says
June 3, 2019 at 4:32 pmDEE readout q3, pivitol pH 3 FXS q4, autism and 22q first half 2020. You may get the pull back right and make money on the puts. But I’d start building a long position soon. This is gem.
Kevin Douglass says
June 3, 2019 at 4:38 pmYa I love this company and what their doing 🙃🥰 I’ve been watching pretty carefully for buying opportunity. I will be putting a long term position together after confirmation of uptrend.