ProMIS Neurosciences Inc (OTCMKTS:ARFXF) Stock Consolidates After The Jump

Biotech firm ProMIS Neurosciences Inc (OTCMKTS:ARFXF) has been on the radars of investors for quite a few weeks and that can be best be gauged from the price action in the stock. Over the course of the past month, the stock has made a strong move and managed to clock gains of as much as 13%.

Market Action

On Friday, ARFXF stock fell 1.94% to $0.1135 with 414k shares, compared to its average volume of 134k shares. The stock has moved within a range of $0.1121 – 0.1200 after opening trade at $0.1195.

Key Updates

The company is focussed on developing antibody therapeutics which can help in combatting neurodegenerative diseases. This past Friday, the company was in focus yet again after it announced that it was going to be one of the participants at the virtual panel discussion that will take place at Biotech Showcase 2022. The discussion is going to be held between 8 and 9 in the morning of January 11 Pacific Standard Time.

Participation in such events can often prove to be a significant boost to companies and hence, it may be a good move from investors to keep an eye on what goes on during the panel discussion. The Chief Executive Officer and Chairman of ProMIS Neurosciences, Eugene Williams is going to represent the company at the panel discussion. Investors could keep an eye on the stock over the coming days.

Traders Note

ARFXF stock is trading below the 20-Day and 50-Day Moving averages of $0.11 and $0.12. Moreover, the stock is trading is the neutral zone with RSI stands at 50.

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