After yesterday’s announcement of an agreement, Biolase has made a spectacular climb.
Biolase Inc., an American NASDAQ-listed medical device company that manufactures and markets proprietary dental laser devices which enable dentists to perform a wide range of procedures, ranging from surgical and restorative operations to the simple and non-invasive.
Yesterday, Biolase announced that it has reached an agreement with DSO Dental Care Alliance to extend the use and management of its lasers in dental offices in the United States.
DSO Dental Care is one of the most important dentist organizations in the United States, with a presence in more than 20 states. It is expected that this agreement will significantly increase Biolase sales, which, up to now, has sold more than 41,200 dental laser systems in more than 80 countries around the world.
After the announcement of this important agreement, the price of this company experienced a spectacular rise of more than 80% during the trading day, exceeding 1.10 dollars per share, with a close at around a dollar per share, easily overcoming its previous resistance levels at 0.66, 0.80 and 0.93 dollars per share.
Technically speaking, after this strong rise, the price is very far from its moving averages with its stochastic indicator approaching its overbought zone, so it would not be ruled out that the price could make some correction in the form of taking profits in the next sessions, although the signing of this agreement gives impetus to this action, since in the coming weeks the triple crossing of moving averages can be completed with the upward crossing of its medium-term moving average in orange to the moving average of 200 sessions in red.
Source: Admiral Markets MetaTrader 5. Biolase daily chart. Data range: from September 12, 2019 to January 13, 2021. Prepared on January 13, 2021 at 10:30 am CET. Keep in mind that past returns do not guarantee future returns.
BIOL performance over the last five years:
With an Admiral Markets Trade.MT5 account, you can trade Contracts for Difference (CFDs) on Biolase and over 3,000 stocks! CFDs allow traders to try to profit from both bull and bear markets, as well as profit from the use of leverage. Click on the following banner to open an account today:
INFORMATION ON ANALYTICAL MATERIALS:
The data provided provides additional information on all analyzes, estimates, forecasts, forecasts, market reviews, weekly outlooks or other evaluations or similar information (hereinafter "Analysis") published on the Admiral Markets website. Before making any investment decisions, pay close attention to the following:
- This is a marketing communication. The content is posted for informational purposes only and should not be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and is not subject to any prohibition on pre-dissemination of investment research.
- Each investment decision is made by each client alone, while Admiral Markets UK Ltd (Admiral Markets) will not be liable for any loss or damage arising from such a decision, whether based on content or not.
- In order to protect the interests of our clients and the objectivity of the Analysis, Admiral Markets has established relevant internal procedures for the prevention and management of conflicts of interest.
- The analysis is prepared by an independent analyst, Roberto Rojas, SEO implementer (hereinafter "Author") based on personal estimates.
- While all reasonable efforts are made to ensure that all sources of content are reliable and that all information is presented, as much as possible, in an understandable, timely, accurate, and complete manner, Admiral Markets does not guarantee accuracy. or integrity of any information contained in the Analysis.
- Any past performance or modelling of the financial instruments indicated in the content should not be construed as an express or implied promise, guarantee, or implication of Admiral Markets for any future performance. The value of the financial instrument may rise and fall, and the preservation of the asset's value is not guaranteed.
7. Leveraged products (including contracts for difference) are speculative in nature and may generate profit or loss. Before you start trading, make sure you fully understand the risks.