Avalon GloboCare Corp. (NASDAQ: AVCO) is a cell technology and bio-development company that is focused on the research and development of exosome technologies and cellular therapeutics. The company operates two main subsidiaries: GenExosome Technologies, Inc. and Avactis Biosciences, Inc. Through its subsidiaries, the company is establishing itself as a leader in the liquid biopsy, cellular immunotherapy, and regenerative medicine.
Avalon GloboCare has seen volatility in 2019. Despite the recent performance, technical analysis suggests that the price action could be near a long-term bottom.
AVCO: Weekly Chart Shows Strong Oversold Signal
The “celltech” company started off 2019 at $2.60 and later shot up to a high of $13.50 in late January. The performance came after the company’s subsidiary, GenExosome Technologies, announced the development of the world’s first saliva-based biomarker in therapeutic target for oral cancer. Following the massive move, the price action pulled back. However, the long-term technicals suggest that the ensuing pullback has gotten excessive.
When looking at the long-term price action of Avalon GloboCare, the $2.00 level has been consistently a level of support since early 2018. Furthermore, slow stochastics are at a ridiculous 2.47, which only further highlights the excessiveness of the pullback. Another encouraging sign is the fact that the moving average convergence-divergence (MACD) is bottoming out and beginning to position higher potentially.
Research & Licensing Agreement With MIT
Recently, Avalon GloboCare announced signing a sponsored research and licensing agreement with the Massachusetts Institute of Technology (MIT). The agreement will focus on using artificial intelligence to develop novel therapeutic targets for cellular therapy using an enhanced protein design “QTY Code” technology.
“This breakthrough technology of “QTY Code” greatly enhances the solubility of designer peptides and proteins, therefore expanding the repertoire of selected therapeutic targets against cancers and other diseases,” according to the company. The research could help lay the basis for a potential next-generation therapeutic treatment for Cytokine Release Syndrome, T-cell leukemia, and more.
MIT professors Robert Langer and Shuguang Zhang will work with Avalon on the research and development. Prof. Langer is not only MIT’s David H. Koch Institute Professor and world-renowned scientist, but he also joined Avalon’s scientific and clinical advisory board in April 2019.
Overall, Avalon GloboCare has seen its share of ups and down so far in 2019. The long-term charts suggest that the stock could be bottoming out potentially, as several technical analytical factors show varying degrees of oversold reading. The company continues to make good operational progress and its recent agreement with MIT is certainly encouraging. This small-cap cell technology and therapy company should be added to your watchlist.
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