GeoVax Labs Sees 'Rocket Ship to the Upside' as Mpox Outbreak Spreads
As mpox, formerly "monkey pox," continues to spread around the world, this biotech name has investors looking for an entry point.
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More cases of mpox, formerly known as "monkeypox," are popping up in Sweden, Pakistan and the Philippines. Mpox is making headlines as it spreads outside of Africa and global health officials seem to be on high alert.
Shares of GeoVax Labs GOVX have soared sharply higher in recent days. The company is a clinical-stage biotechnology company developing vaccines and immunotherapies against infectious diseases.
Let's check out a few charts.
In this daily bar chart of GOVX below, I can see a rally in June and a stronger and steeper rally in August. Prices have soared sharply higher in a short period of time, so the slope of the 200-day moving average line has not yet turned positive. The trading volume has surged in late June and again in August and traders rush in to buy shares. The On-Balance-Volume (OBV) line has started a stair-step move higher. The Moving Average Convergence Divergence (MACD) oscillator has crossed above the zero line.
In this weekly Japanese candlestick chart of GOVX below, I can see a long decline followed by a recent and sharp move to the upside. Prices are above the 40-week moving average line. The weekly OBV and the MACD oscillator have turned bullish.
In this daily Point and Figure chart of GOVX below, I can see a price target in the $21 area.
In this weekly Point and Figure chart of GOVX below, I can see the same $21 price target as the daily chart above.
Bottom line strategy: It is hard to trade the kind of move we have been seeing on GOVX. It is a rocket ship to the upside. Where do you buy it? What do you risk? Traders who understand risk could take a small position. Risk a dollar amount that you are comfortable with.
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