Long Position on IRON @ $48.00 on 7/31/2023 (Momentum)

Disc Medicine Opco Inc. (IRON) operates as a clinical-stage biotechnology company, engages in the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases. 

The company builds a portfolio of fundamental biological pathways of red blood cell biology, primarily heme biosynthesis and iron homeostasis. It also develops bitopertin for the treatment of erythropoietic porphyrias, erythropoietic protoporphyria, and X-linked protoporphyria.

In addition, the company develops DISC-0974 for the treatment of chronic kidney disease; MWTX-003 for the treatment of polycythemia vera, and other hematologic disorders; and DISC-0998 for the treatment of anemia associated with inflammatory.

Shares are heading higher in an upward trading channel. The lower boundary of the channel coincides with the stock's 50-day moving average. MACD and Stochastics have also turned bullish on the stock. Higher share prices are expected.

Entry Point: $48.00

Stop Loss: $45.50

Trading Range: $15.00 - $63.60

Target Price: $53.00

Position closed on 8/10/2023 at price of $53.20 with a 10.83% gain in 10 days.

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