Those looking into pharma sector at this point might have noticed that the Adamis Pharmaceuticals (NASDAQ:ADMP) stock emerged as a significant gainer on Thursday and soared by as much as 62%.
It is a micro cap stock but after the United States National Institute of Health provided a statement about the possibility of deploying TEMPOL as a potential COVID 19 therapy, the stock surged. As a matter of fact, trading on the Adamis stock had to be halted following the rally.
It goes without saying that it is a major development for Adamis and it is likely to bring the stock into considerable focus among investors over the coming days. It should be noted that the New Investigational Drug application for TEMPOL had been cleared by the United States Food and Drug Administration back in February. The statement made yesterday by the NIH stated that TEMPOL ‘may be a promising oral antiviral treatment for COVID-19’.
Moving Averages
| +/- EMA(20) | 0.77 (+46.75%) |
| +/- SMA(50) | 0.80 (+41.25%) |
| +/- SMA(200) | 0.83 (+36.14%) |
Pivot Points
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
| Classic | 0.2800 | 0.4700 | 0.8000 | 0.9900 | 1.3200 | 1.5100 | 1.8400 |
| Fibonacci | 0.4700 | 0.6686 | 0.7914 | 0.9900 | 1.1886 | 1.3114 | 1.5100 |
 Stock Crosses $1: Is The Rally Real?){kind=link}