Quick Win By The Algorithm: PLX Shares Gain Momentum From Bullish Market Outlook

Quick Win By The Algorithm

On January 18th, 2017, the I Know First Algorithm had predicted a bullish forecast for Protalix BioTherapeutics (PLX). I Know First’s self-learning algorithm had predicted a bullish forecast on PLX, with a signal strength of 266.78 and a predictability indicator of 0.23. In accordance with the algorithm, the firm had a reported a high short-term return of 38.80%, experiencing a quick win by the algorithm.

Quick Win By The Algorithm
Protalix BioTherapeutics, Inc. (PLX), a biopharmaceutical company, focuses on the development and commercialization of recombinant therapeutic proteins based on its proprietary ProCellEx protein expression system in Israel and internationally. The company offers taliglucerase alfa for injection, which is marketed under the ELELYSO brand name, as an enzyme replacement therapy for the long-term treatment of adult patients with a confirmed diagnosis of type 1 Gaucher disease. (Yahoo Finance)

The algorithm had picked PLX as its top bullish choice, as shown by its superb signal strength of 263.78. There two main events that had caused PLX shares to gain tremendous momentum. A positive review of financial and operational strategies for 2016 and a 2017 outlook, which can be found on Bloomberg here. The excellent operational performance over the course of 2016 had convinced investors that PLX is back on track at entering new strategic partnership and increasing revenue. In addition, the stock had experienced a huge momentum boost, when a press release was released that Knight Therapeutics Inc. had purchased a 5% stake in PLX, with 6.2 million shares valued at a price of $0.57 per share. Knight is a leading canadian pharmaceutical company, and its action had further boosted the markets bullish outlook on PLX, causing their shares to surge.

This bullish forecast on PLX was sent to current I Know First subscribers on January 18th, 2017. 

Before making any trading decisions, consult the latest forecast as the algorithm constantly updates predictions daily. While the algorithm can be used for intra-day trading the predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.

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