Exploring Penny Stocks with Upward Momentum and Catalysts (BCLI, NRSN, RELI, COCP, AMPE)

11/27/20234 min read

In this week's watchlist, we'll delve into the analysis of five companies with the potential for upward movement in their price-per-share. Our focus will include an examination of key support and resistance levels, as well as a detailed breakdown of imminent catalysts that could impact these companies. Join us as we dive into these stocks, unraveling insights that could prove beneficial in navigating the vast realm of penny stocks.

BrainStorm Cell Therapeutics Inc. (NASDAQ: BCLI) - The company recently revealed in a press release that the U.S. Food and Drug Administration (FDA) has granted a meeting to discuss the regulatory path for NurOwn® in amyotrophic lateral sclerosis (ALS). This meeting is set for December 6, 2023.

In the last week's trading session, the company's share price concluded the week at $.2484, experiencing a 3% decrease. Keep an eye on the support level near $.2350 and the resistance range of around $.2750-$.28. We'll be closely observing for a potential breakthrough in resistance and staying tuned for forthcoming company updates.


NeuroSense Therapeutics Ltd. (NASDAQ: NRSN) - This month, NeuroSense reported progress in their PARADIGM (NCT05357950) Phase 2b clinical trial for PrimeC in ALS. The trial, spanning Canada, Italy, and Israel with 69 ALS participants, aims to evaluate PrimeC's efficacy, safety, and tolerability. Endpoints include assessing ALS biomarkers, clinical efficacy, and quality of life. Meanwhile, the company successfully concluded a Type D meeting with the FDA for PrimeC in ALS treatment, obtaining approval for their CMC development plan, a pivotal step for an anticipated Phase 3 study and potential marketing approval. Clinical efficacy top-line results of PARADIGM, a Phase 2b trial in ALS, expected in December 2023

Concluding the previous week's trading session with a 3% gain at $.6421, the company faces resistance at $.6550-$.66 and support around $.58-$.60. Vigilantly monitoring for a breakthrough in resistance, with substantial volume and await forthcoming company updates.


Reliance Global Group Inc. (NASDAQ: RELI) - This month, the company revealed its entry into a Letter of Intent (LOI) for the acquisition of a prominent benefits enrollment firm serving around 45,000 U.S. employees with advanced technology. The acquisition hinges on finalizing a definitive agreement and meeting standard closing conditions, slated for completion in Q1 2024. Simultaneously, the company withdrew its previously announced public offering. Reliance CEO Ezra Beyman cited unfavorable terms and expressed commitment to safeguarding shareholder interests, emphasizing confidence in the company's future amid ongoing initiatives like OneFirm vision and RELI Exchange consolidation.

Concluding the recent trading week with a 6% decline at $1.21, the company faces resistance at $1.27-$1.30 and has tentative support around $1.10-$1.12. We'll be closely monitoring the company to maintain support or, alternatively, break through resistance.


Cocrystal Pharma, Inc. (NASDAQ: COCP) - This month, Cocrystal reported substantial progress in developing potent antivirals for major viral diseases. Dr. Sam Lee, President and co-CEO, highlighted advancements, including the initiation of a Phase 2a human challenge study for the novel oral PB2 inhibitor CC-42344 targeting pandemic and seasonal influenza A. Anticipating the first subject dosing by year-end, they also plan a Phase 1 trial for inhaled CC-42344 in early 2024. With three clinical-stage antiviral programs, CFO and co-CEO James Martin expressed optimism for an active and potentially transformative year ahead, emphasizing their current cash position's adequacy for planned operations beyond the next 12 months.

Concluding the recent trading week with a 2% decline at $1.46, the company has recently touched a 52-week low of $1.38. We will closely observe for the establishment of support through sideways movement, anticipating a potential upward trend.


Ampio Pharmaceuticals, Inc. (NYSE American: AMPE) - In October, the company selected Ascendia Pharmaceuticals, Inc. to support the clinical development of OA-201, a novel therapeutic for osteoarthritis pain. Ascendia, a specialty CDMO leader, will offer services such as formulation development and process optimization for OA-201. This includes scale-up, GLP supply, and method validation, culminating in cGMP manufacturing to support future clinical trials. In September we would also like to note, Ampio Pharmaceuticals, Inc. entered into an At The Market Offering Agreement with H.C. Wainwright & Co., LLC, establishing an at-the-market equity distribution program for potential sales of up to $1,250,000 of the company's common stock. Concluding the recent trading week at $2.12, with a low of $2.09, we will closely monitor this company for potential bottoming and stay tuned for future updates, considering its float is below 1 million.

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