NFTRH+; a Healthcare ‘bottom feed’ idea

I put THRN on my watch list as a bottom feed type play last week as I was looking through the Healthcare sector for ideas, but have sat on my hands watching it rise the last few days because its IPO insider share lockup expires tomorrow, March 22.

Please do your own DD on Thorne Healthtech if interested for anything but a chart trade. Personally, I am not in love with some of its business, specifically supplements. I don’t really believe in that stuff. But that’s just me, an old fashioned curmudgeon. What matters is what today’s generations believe in. Here are a couple blurbs for a general view of the company’s performance and metrics since the IPO.

And this being an NFTRH+ chart highlight, here is the aspect I am more concerned with. THRN has broken above the SMA 50 for the first time with a bit of post-earnings volume. RSI looks nice. As for potential upside, it’s always a crap shoot targeting a bottom feed type play (because there is no uptrend), but there is clear and thick resistance at 7.60, which would be close to 40% upside potential.

I would personally consider (pending reviewing the company in a little more depth) adding the stock on a pullback to the SMA 50 if the share expiration pressures the stock this week. It is not a high volume trader, so that could happen.

A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the technical parameters are already noted. These updates are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason) as I often do. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.