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If you’ve followed my work for even a week, you know I love a good momentum play.
There’s nothing quite as satisfying as seeing a swell in a stock price form, hopping on your board, and taking a ride.🏄
I’m going to get right to the point today. You need to pull up this ticker and look into it immediately…
OKYO Pharma Ltd. (NASDAQ: OKYO)
Here’s the deal. This small biopharma company took a beating in June, losing about 30% of its value in that time.
But get this. Since bottoming out a few weeks ago, OKYO has been an amazing rebound, jumping over 80% from the lows!
As I was digging around stats for the month, I found that little-known OKYO has quietly been one the best performers in the entire market during that time.
When I see something like this, I know I need to do some more research on it.
OKYO is a company that specializes in treatments for “Dry Eye Disease” — a multibillion-dollar market (who knew? 🤷) — but it’s the price action on the stock that most interests me.
It started the month at $1.15, then dropped as low as $0.92 a week later. At this point, I am sure most traders bailed on it for a loss.
This is the exact thing that algos in the market love to see happen. Sellers bail on a stock for a big loss, and then the market carries the stock much higher.
Maybe a short squeeze is pushing it higher?
I don’t know exactly how big the short interest is, but I am guessing that it is huge based on what I see over at iBorrowdesk, which is a site that tracks the fee for borrows on stocks.
Just look at how ridiculous it is to try to borrow shares to short on OKYO right now:
You would need to pay a small ransom to try to borrow shares. That suggests to me that shorts might be “on the ropes” with this one.
Now, fast-forward two weeks later and OKYO is sitting at $1.85 — meaning it’s surged 87% from this month’s lows…
Yesterday alone, OKYO was up over 21%.
I know you were probably too busy watching the markets drop like a rock (I hope your portfolio didn’t look like this!)
While OKYO was busy making investors happy 📈, here’s what the S&P delivered to us 💩:
And here’s the NASDAQ:
The question now is where does OKYO go from here? (spoiler alert: “I don’t know!)
But, Yahoo! Finance has its opinion:
As does TipRanks:
… aaand Seeking Alpha:
For my part, I’m seeing strong signs of a continued run in the daily and hourly charts:
Since the “gamma trigger” was fired on July 14th, we have seen a stunning move higher for OKYO.
Keep this in mind: I think this is a lightning-quick idea. I like this especially in light of the stock bucking the market yesterday…
Just because I like a stock doesn’t mean it is going to work out like I think it could, it might do better, or worse. If you decide to trade it, make sure you understand all the risks involved and have your own game plan in place. I am simply showing you something that I think is an amazing stock right now.
Check out the charts, do your homework (its NASDAQ ticker is OKYO) and see what you think. Let’s see if this trend will continue even further!
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