Technical outlook – Approaching this share from a technical perspective, we can assess that the bearish traction has the potential to strengthen further from the assessment of the Relative Strength Index (RSI) 3-day lookback.
Also, let’s not forget to add that the ‘Moving Average Convergence Divergence’ (MACD) has married up with the (RSI), which in terms strengthens the given bearish aspect.
The immediate target is located at $3.90, with scope to challenge $3.70. Reassess from there.
Company Overview – Paradigm Biopharmaceuticals Limited (PAR) is an Australian biopharmaceutical company focused on repurposing the drug ‘pentosan polysulphide sodium’ (PPS) for the treatment of bone marrow edema. Paradigm is targeting addressable markets intending to use the shortened development pathway utilising repurposed drugs.