Biocept, Inc. (NASDAQ: BIOC)
Biocept is one of my favorite stocks to follow. Beyond price movements, I find the concept of liquid biopsies incredibly appealing. With that said, I’ve been watching the stock closely recently as I believe recent downtrends opened a perfect buying opportunity. However, when I opened the chart today, I saw something different. Today’s chart looks like Biocept may be headed back toward uptrends. So, today we’ll take a look at the stock from both a short term technical and long term fundamental perspective to see what’s going on.
Technically, Biocept Stock Seems Ready To Pop
Looking at the chart to the left, there are a couple of things that are pretty easy to see. On Monday, we saw a nice climb that was followed by a major correction. That correction sent momentum for the stock on a downtrend. However, that downtrend hit the floor yesterday around 2:45. Since then, we’ve seen the resistance line stay pretty much stagnant while the support line has moved up exponentially in trading. As these two points get closer, we get closer and closer to a breakout. In this particular case, it looks like the breakout is going to happen in the positive direction.
Fundamentally, BIOC Is A Solid Long Term Investment
On the fundamental side of the coin, there’s good reason for the increase we’re seeing in the market currently and for future gains. The reality is that Biocept is making incredible advancements in the field of cancer diagnostics. Recently, there have been two pieces of great news that say BIOC is well on it’s way to changing the way we diagnose cancer…
- Breast Cancer Biopsy – Recently, Biocept released data from a study that included several women who have been diagnosed with breast cancer using the traditional tissue biopsy. The company conducted several liquid biopsies with the use of simple blood samples. After comparing the results to those of the tissue biopsies, they proved to be identical; essentially proving that liquid biopsies with blood samples can be just as effective as tissue biopsies.
- Defining Those Susceptible To Lung Cancer – Even more recently, data was released surrounding a new test that has been added to Biocept’s line up. The new test is designed to pinpoint patients that are likely to get lung cancer in the future. Thus, giving highly susceptible patients a hint before hand and helping with early detection and survival rates.
Looking at the two pieces of data above, it’s easy to see why I’m so excited about Biocept. When talking about BIOC, I believe we’re talking about a company that has the ability to change the entire cancer diagnostics industry. By offering liquid biopsies, cancer can be detected without invasive procedures; therefore, more people will be receptive to early biopsies, leading to early detection and higher survival rates! With that said, from a long term standpoint, I think BIOC is going to see massive gains.
What Do You Think?
Where do you think BIOC is headed and why? Let us know in the comments below!