OKYO Should I Buy
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OKYO Pharma Ltd is not a good buy for a beginner investor with a long-term strategy at this moment. The stock is experiencing a significant pre-market decline (-9.22%), and technical indicators suggest a bearish trend. Additionally, the recent public offering at a lower price point ($1.85) could further pressure the stock price in the short term. While the analyst rating is positive with a $5 price target and the company is addressing an unmet medical need, the lack of immediate positive trading signals and financial data makes it prudent to hold off on investing right now.
The MACD is below 0 and negatively contracting, indicating bearish momentum. RSI is neutral at 59.693, and moving averages are bearish (SMA_200 > SMA_20 > SMA_5). The stock is trading near its support level (S1: 1.865), with resistance at R1: 2.216.
B. Riley initiated coverage with a Buy rating and a $5 price target, citing the development of urcosimod for neuropathic corneal pain, a condition with no FDA-approved treatments. The estimated patient pool could grow significantly with improved diagnosis.
The stock is down -9.22% pre-market. OKYO Pharma announced a public offering of 10.82 million shares at $1.85 each, potentially diluting existing shareholders and putting downward pressure on the stock price. Technical indicators are bearish.
No financial data available for analysis.
B. Riley initiated coverage with a Buy rating and a $5 price target, highlighting the company's focus on addressing an unmet medical need in neuropathic corneal pain.
