It was only 2 months ago when we wrote that biotech stock Immunovaccine had strong bullish momentum. That was the momentum we spotted quite some upside potential in that stock.
At the time of writing Immunovaccine Inc (TO:IMV) had a market cap of $104M. Meantime, it has reached $176M.
Immunovaccine has a candidate for one of the hard-to-treat forms of cancer (ovarian cancer). The company keeps on announcing encouraging test results, which feeds the assumption that is well on its way to have potentially a breakthrough treatment of ovarian cancer.
We wrote in February that stocks in momentum typically run out of steam after some weeks or even days. Immunovaccine went 20 percent higher after that call, retraced till $1.00, and rallied sharply higher to touch all-time highs at $1.50 per share today. That happened on very high volume which suggests a lot of buying interest as prices are skyrocketing. That is definitely a very solid sign of investment interest, one that should not be ignored.
InvestingHaven considers this setup to be a breakout: all-time highs on increasing volume, after 4 attempts, is very promising. This stock will probably trade at $2.00 in no time.
It still has ten-bagger potential.
