Buyers getting active but still some work to do before we see higher prices

Potential Buy Entry Alert to Watch OPT

Time Frame : Daily/Weekly

Sector : Materials/Basic Materials

Key Stats : $167.11 Million Market Cap, VWAP 0.71, ASX Ranking 587, 4 Week Av Turnover $136,135, Current Turnover (Intraday as at time of alert) $3,089,084.

Company Overview : Opthea Limited (OPT, formerly Circadian Technologies Limited) is a biologics drug developer focusing on ophthalmic disease therapies. Opthea’s lead molecule is OPT-302 for the treatment of ‘back of the eye’ disease such as wet age-related macular degeneration (wet AMD) and diabetic macular edema (DME). OPT-302 is a soluble form of VEGFR-3 that acts a VEGF-C/VEGF-D ‘trap’.

Broker Consensus : BUY

OPT – Opthea Limited

OPT recently backed off from resistance at 0.80 and today has seen a spike in volume on a ‘special crossing’ prior to market open. We view this as a potential pick up in interest from buyers so will be watching for minor higher lows off the deep pullback to 0.65. We expect, if we see favorable price action, a push up through the 0.80 zone for a continuation of the weekly trend higher.

Stock Code : OPT – Opthea Limited

Company Website : www.opthea.com

Current Price : 0.73

Status : On watch for potential higher low for entry