Catalyst Seneca Biopharma, Inc. (Nasdaq: SNCA) entered into a agreement with a privately held company Leading BioSciences, Inc. (“LBS” for a merger with to form Palisade Bio, Inc.
SNCA has broken out of a descending channel and retested the upper trend line.
The idea is self explanatory targets and stop loss is marked on the chart.
A good risk management is key to success in the financial markets. Risk only a small portion of your portfolio in this risky but potential trade.
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First price target done.
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Reason for cancel is SNCA ticker will be no more after today becasue of a new ticker PALI as the merger comes into effect.