DDDD Share Price Update: 4d Pharma Suspends Trading Immediately

Summary:

The DDDD share price gained more than 5% on the day, but the company has applied for suspension of trading on its shares.

The DDDD share price gained 5.04% this Friday but has seen the upside limited by the company’s decision to suspend trading in its shares immediately. The stock had been aiming to extend the winning streak for a second day, even as it struggled to recover from a particularly steep drop of 32.52%, in the 21 June trading session.

So what has brought about the suspension in the trading of the DDDD share price? The company adduced no reason for the request it made to have trading on its shares suspended. But it may not be unconnected with the sustained fall in the DDDD share price. Since hitting a high of 77p on 23 March, the stock has experienced a consistent drop. This has led to the stock now trading at less than 25% of its 2022 peak.

4d Pharma says it will make an announcement in due course on when trading on shares will resume.

The stock bounced off the 14.20 support, provided by the 161.8% Fibonacci extension level earlier traced on the daily chart from the swing high of 24 March to the swing low of 8 April and another swing high seen on 5 May. The next upside targets for the DDDD share price should lie at the 141.4% Fibonacci extension level at 17.72, followed by the 127.2% Fibonacci extension level at 20.18. 24.80 (20 June high) and 28.04 (14 March low) will constitute additional targets to the north if the price action resumes with strong tailwinds.

On the other hand, a further decline from present levels may target the 7.60 price level, located at the 200% Fibonacci extension level. This may be preceded by a retest of the 14.20 support, with a breakdown of this pivot required to clear the way to the lower target.