Biocept, Inc. (NASDAQ: BIOC)
Biocept has been an incredibly interesting stock to follow lately. After releasing data from a new test added to the company’s portfolio, we saw a decent climb in the stock. However, since then, we’ve seen slow; yet steady downtrends that are basically giving all the gains back. However, I’m not quite sure that the downtrends we’ve seen lately are likely to last. As a matter of fact, I’m under the impression that BIOC is likely to climb; both in the short and long term. Here’s why…
Biocept Looking For A Breakout In The Short Term
When it comes to the short term outlook for any stock, I like to try and let the chart tell the story; and the Biocept chart is showing a story of great opportunity. With that said, on April 17th, the stock saw massive gains after releasing data. However, shortly following the gains, we started to see a correction that gave away much of what was earned. Then, on May 1st, the same thing happened. Information was released; leading to a spike in the stock price followed by a correction. Now the stock is dipping again. However, looking at the charts, I can see that the value of the stock is getting very close to market support. Based on the support level and what we’ve seen over the past month, I think this is going to lead to another positive breakout.
The Long Term Looks Even Better For BIOC
While I have to admit that the short term outlook seems pretty good, the long term looks even better. When it comes to long term predictions, I generally look at the fundamentals the company shows. In this particular case, it seems as though BIOC is fundamentally sound. More importantly, it looks like the company is continuing to innovate and likely to grow. As a matter of fact, the company released two big pieces of information lately that attest to the strength of the investment…
- Breast Cancer Biopsy – First off, last month Biocept released data revolving around a breast cancer study. The study was conducted to prove that specific types of breast cancer can be detected from a liquid biopsy using a simple blood test rather than a tissue sample. After comparing the results of several liquid biopsies to several tissue biopsies, BIOC proved that liquid biopsies were just as effective.
- Early Cancer Detection – Another very interesting thing we’ve heard from Biocept is that they are making moves for early detection of cancer. As a matter of fact, they just added a new test in their portfolio that should do just that. The new test looks for consumers who are likely to develop lung cancer in the future or who are receptive to cancer cells.
Keeping these things in mind, it’s easy to see why I believe we’ll see strong growth out of Biocept in the long run. After all, both the breast cancer biopsy and early cancer detection test will most likely prove to be incredibly popular.
What Do You Think?