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Pull up the $OSTX chart to see what I am talking about! After a cup has formed last week, I expect some consolidation so the “handle” can create before it continues its bullish momentum. If you are unfamiliar with the cup and handle, here is a brief explanation of the pattern
Pattern Construction:
- Cup: The "cup" forms after a stock pulls back from a high, finds support, and then begins to recover to previous levels. The formation should ideally be smooth and rounded, indicating a period of consolidation or accumulation.
- Handle: The "handle" is a shorter, smaller price pullback after the cup completes. This signifies a final shakeout of weak holders before the stock breaks out.
Significance:
- Breakout Signal: The pattern is confirmed when the price breaks out above the resistance level formed by the upper end of the cup. This breakout is typically accompanied by increased volume, signaling strong buying pressure.
- Bullish Continuation: This indicates that the prior uptrend is likely to continue after consolidation. Traders typically look for entry points at or just above the handle's resistance.
Here is the catalyst for their recent stock price increase:OS Therapies Completes Clinical Trial and Prepares to Analyze Results
OS Therapies, a company working on new cancer treatments, has announced that the final patient in their clinical trial for a new drug called OST-HER2 has completed all tests. This trial was for patients with a type of bone cancer called Osteosarcoma that had returned after treatment. Now that the trial is over, the company is getting ready to discuss the results with the U.S. Food & Drug Administration (FDA) to make any needed changes. They plan to finish analyzing the data and announce the results by the end of 2024.
What Is OST-HER2?
OST-HER2 is a type of vaccine designed to help the body fight cancer. It uses a weakened form of bacteria (Listeria monocytogenes) to stimulate the immune system and prevent cancer from spreading, coming back, and help patients live longer. The recent trial involved 41 patients at different hospitals in the U.S., and the treatment was given every three weeks for a year. During this time, doctors kept checking to see if the cancer returned.
The main goals of the trial are to see if patients can go for a year without their cancer coming back and how long they survive overall. The company expects to share these results later this year.
How Does OST-HER2 Work?
The treatment works by boosting the body’s natural defenses to attack the cancer cells. It helps produce special cells, called T-cells, that can find and kill cancer cells. Right now, there are no approved treatments in the U.S. specifically for Osteosarcoma that comes back after treatment, and there haven't been any new treatments approved in over 40 years.
Communicated Disclaimer - NFA.. Please continue your research -! Sources: 1 2 3
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