DICE - DICE Therapeutics: Risks To Reversal Rally Noted In Market Data (Technical Analysis)

Summary

• DICE Therapeutics rallied hard following positive top-line data in its DC-086 investigational compound in October last year.
• Momentum has stalled into the new year, however, and we sought to identify how investors are positioning in DICE this year.
• Data suggests that demand is still there but is fading and that large order volume has scaled back significantly.
• We see further downside to come into the coming weeks to months, eying potential targets of $25 and then $17.
• Net-net, we rate DICE a hold.

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