What is up, everybody welcome to trades trades, where we give a technical analysis on different stocks in the stock market, as well as give buy, hold or sell opinions on these. Given stocks i'd like to preface by saying that i am not a financial advisor nor expert, i'm just some random dude on youtube, but with that being said, let's get into the video. So today we're going to be looking at ticker symbol, v e r: u veru! Veru incorporated - and i think that this is a great stock to watch on market open on monday. And let me give you a couple reasons why so i've given a video on veru uh before it would have been about three or four days ago, and it was when we saw this huge spike in price action.

So veru is a company that is researching different methods to treat both breast and prostate cancer. They are on phase two of a drug at the moment and they had very positive results with this drug. Now they had given out results on the internet and after that went on the cramer tonight show and after that happened. This was during the after hours market and you can see exactly what time this this spike happened.

If you want to pause the video and take a guess if you, if you want otherwise, i can point it out to you right now. It is right here. The price valuation for veru before the ceo went on the kramers tonight show was about 9.78 and you saw a high here of about 11.40 cents. You see a double under here, so there was two points in which we touched about 11.88 cents and it shot back down, came back up shot back down, we saw some people taking profits and we saw one more huge spike here, tapping out at just over twelve Dollars ringing in at twelve dollars and nineteen cents, now it's to be expected when you see you know an initial climb from a low point of 867 during the normal market hours to and 12.18 cents.

You know a fifty percent gain in the time period of about of about uh three hours that you're gon na have people take profits, that's inevitable, and with that happening you know, volatility is going to be a large piece of it. You can see here that we should we had about 1 million shares that were traded during the after hours, which is an absurd amount compared to their usual volume of you know: 3. 000. 4.

000 thousand. Sixty six thousand. You know this is immediately after market closed. So um, you know at the very high here you're looking at four hundred eighty thousand, but we saw it consistently for probably about an hour, seven hundred eleven thousand one million four hundred and seventy thousand - and this is on a five minute chart.

So that is a lot of volume that will drive a lot of volatility, especially when there are not very many shares floating for this stock. Now. Why do i think that this is something you should have on your radar for the week? Well, this is a hype stock and while there may not be any catalyst that is soon coming out, i think that this was an oversold stock. Now, if you look at the company as a whole, their financial situation, especially according to the ceo, is in a pretty good spot.

The ceo says they have another business on the side that is producing steady cash inflow. There is no worry of a stock buyback, so i know that is a concern that a lot of people see when a stock price initially shoots up that you're going to have the the share owners, the shareholders of the company. You know attempting to sell some of their stocks to the company that way they can turn a quick profit and then you know consequently you'll see a pretty steep decrease in the price valuation, but the ceo of veru has publicly stated that that is not going to Be an issue now there is a lot of upside with this stock and i think something that you should pay attention to is the pre-market movement on this stock because, as i've said before on this channel patterns in the stock market, especially with technical analysis, isn't a Very important thing to pay attention to so you can see here that on the 14th of december, you saw a very steep increase in price from seven dollars and fifty cents up to a high of about eleven dollars and forty to fifty cents, and that was just In the pre-market and then of course, we saw a little bit of consolidation a little bit of drop, but there was a lot of after hours, market movement as well. So this is a stock that you know, statistically and historically speaking, does tend to have a lot of pre-market and after hours movement.

So if you do see some some pre-market movement on this stock on monday, you should consider possibly opening a position for a day or swing trade on the stock. What is my game plan with this stock? I think 873, which is the current 875, which is the current stock price, is a pretty solid level. You know if we come back here. Let's, let's look at a 10-day chart.

If you look at a 10-day chart, the low is about 3.35 cents. We've seen some climbs some stair-stepping. This is about the low on 12-11 and since then, we really haven't touched this level um. So it's safe to say that this level of support is now obsolete.

It looks like this level of support right here, which i will map out, for you is the new level of support for this stock, so we're sitting about eight dollars and fifty four cents, and if we come into the two-day chart, you see that we have not Quite touched that we came close, however, you know when we came within two or three cents of this support level. We did see a buyback on this stock. There was a little bit of price rejection up to this level of 878.. Now.

What does this mean? Where's? The upside where's, the potential growth. Well, i do have a position in this stock and i will be holding until i make a decent amount of profit. I just like to repeat that i'm not a financial advisor and expert, i'm just a random dude on youtube. So take what i say with a grain of salt.

However, this is how i will be playing this particular position. I will be watching very closely. I have three resistance levels set. I've got one here at 10 26.

This is not a very strong resistance level. I don't think you're going to see a lot of a wall here. I think this this will come down pretty easily, but this is a point in which we saw a little bit of struggle here. It looked like there was a couple of candlesticks that touched this level.

You know one two three four five times and they were all rejected, so that'll be the first step to pay attention to is this 1026 resistance level? I think once we come past that there is a secondary resistance level and that would be at about 11.15. We saw that there was one candle wick that went above this resistance level back here we had some price rejection and we came back up and passed it. However, we did come back down test this level again and we have come back down since with a very slow and steady uh decrease in price valuation. One thing to take into consideration is that we did not see a very steep sell-off.

It wasn't a dramatic sell-off people taking profits. This is a very gradual sell-off and there's not a lot of volume here. So i think it's safe to say that the price valuation is very safe here and you're not going to see levels much lower than this. If we can break through this 1115 resistance level, this 1188 is the next resistance, and if we bust through that, you could be seeing a price valuation on veru of 12.

fifty thirteen dollars the amount of volatility that can come with this is to me infinite. I think uh, this is definitely a hype stock. This is a stock where people will be coming to pump and dump so make sure that you are paying close attention to the charts. When you are in this play, however, it is a great opportunity to make some money.

If we look at some different forum groups, you can see that there are a lot of people that are interested in this stock. Veru has 12 000 people on its page. That are currently watching the stock and a lot of people are bullish. There's a lot of bullish people we've got one two one bear three, four, five, six, seven eight and that gives uh.

If that gives you a pretty good idea, there are a lot of people that agree with the standpoint that i have on this i'd also like to repeat that there have been analysts that have come out and given price targets granted. These are, you know, six to 12 month price targets between 13 and 19 dollars. So i think there is a lot of upside with this stock. I think that this is a very solid support level.

If you'd like to get a position, you know you might see it drop lower than this, but i very highly doubt it if you do see the stock drop below 854. You are probably going to be looking at a new support level down here in the 486 range, which is way undervalued for this company. So if you do happen to see this, you know this 486 price target on the stock on monday, tuesday wednesday buy in, because you are going to be seeing you know 100 to 200 percent upside, because that would be a very drastic oversell on this company. There's a lot of upside on this, and i can see it going a very long way, not only in the short term, but also in the long term.

So that is what i have for veru today. Thank you for coming to the channel. If you enjoyed the video please like or dislike, if you did not either way, it helps the youtube algorithm and you will be helping me out immensely if you enjoyed the content and would like to join the family over here at trace trades. Please subscribe to the channel i'd like to get to 50 subscribers by the end of next week, we're currently sitting at 28..

I'm so grateful for everybody that decided to join, and that is all i have for you today. So, thank you for coming and i'll see you guys next time, peace.