These biotechs surge, plus LMT beats earnings

January 24, 2023

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Good day, 360 –

Here are our top 3 trade ideas today – these setups look primed! Be the best prepared trader on the Street!

CANF -  10% higher as drug significantly inhibits pancreatic cancer in preclinical studies

AXLA - 60% higher after announcing regulatory path to registration of AXA1125 for long COVID-19 fatigue, submitted *application for phase 2b/3 trial to FDA   

LMT - 1.9% higher after beating on the top and bottom line

A message from Siyata Mobile (SYTA)*

There is a very unique opportunity right now with SYTA.

SYTA is a tiny, NASDAQ-listed tech company trading for less than $.20 right now, but here’s the thing… 

Q3 results showed revenue growth of 111% year over year – in one of the toughest market conditions ever. 

And recently, a Senior Equity Research Analyst at Zacks Small-Cap Research with over 25 years of securities industry experience assigned a $2.50 valuation on the company (November 14th, 2022).

The stock has been building a base for 4 months now from the Oct lows and has provided traders with many double-digit trading opportunities – click the chart to see more:

A $.20 stock with a $2.50 rating could make SYTA one of the most undervalued stocks out there.

It’s obvious that traders are starting to take notice.  Make sure SYTA is on your trading radar this week.

>> Click here to learn more about the whole story and get started on your own due diligence.

*This is an issuer paid ad, see disclosures below

CANF-  10% higher as drug significantly inhibits pancreatic cancer in preclinical studies

CANF surged as high as 40% after the PR and has settled around 10% higher in pre-market trade. The company announced that its anti-cancer drug Namodenoson  significantly inhibits the growth of pancreatic carcinoma as a stand-alone treatment. 

In combination with the leading chemotherapy used in pancreatic cancer, gemcitabine, Namodenoson demonstrated a significant additive effect. These pre-clinical studies were conducted on advanced pancreatic carcinoma patient cells.

It should be noted that CANF issued shares and warrants  a couple of weeks ago around $5.50 per ADS, which could add supply.

$5.60 was support in the pre-market and should be an important pivot point today.

Above it, targets are $6, $6.50 which was resistance in the pre-market and then the pre-market high of $7.39. Prior support at $7.80 would be the next potential resistance.

Below $5.60, the offering price of $5.50 is a target to the downside, with a gap fill to $5.06 below that in play.

AXLA- 60% higher after announcing regulatory path to registration of AXA1125 for long COVID-19 fatigue, submitted application for phase 2b/3 trial to FDA 

AXLA is a low priced stock with 63 million shares in the float according to Finviz. It has already traded over 5 million shares in the pre-market before market open. 

The stock cratered in December after announcing a workforce reduction by 85% and cutting one of its development programs and focusing on Long Covid. The stock was trading above $1.60 in October of last year.

The $0.65 area was a support level in after-hours yesterdays and should be an important pivot point today.

Above it there is potential resistance at $0.76 and then then at the premarket high of $0.89 above that which also represents a gap fill. Targets above that include $1 and $1.20.

Below $0.65, potential targets are $0.60, $0.50 and then a gap fill to $0.43.

LMT - 1.9% higher after beating on the top and bottom line

Lockheed Martin reported Q4 Adj. EPS of $7.79 vs $7.39 estimate with sales of $19.00B vs $18.27B estimate. However, the company guided FY23 EPS $26.60-$26.90 vs $26.93 with net sales $65-$66B vs $65.75B estimate. Despite the not so strong guidance LMT is gapping around 2% higher on the earnings beat.

$450 was a level of prior resistance and should be an important pivot point today.

Above it, $453.50 is potential resistance with the next target a gap fill to $461.74. The next level  is $470 above that.

Below $450. There is potential support at the $445/$446 area and a gap to fill at $441.28.

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