With it breaking the $5.00 level, which can be one of the toughest levels of resistance, JAN could really start to pick up steam in the short-term.
In the chart above, you can see that in August JAN already reached for the $6.50 mark once.
But, Why Could We See JAN Make A Bigger Move?
Right now, JAN is displaying several bullish technicals in the short, medium, and long terms.
Your No. 1 Potential JAN Catalyst
According to Barchart, JAN is currently a "100% BUY" based on overall technical indicators.
Further, Barchart reports JAN "ranks in the Top 1% of all short term signal directions."
Here are the bullish, triggered technicals the website is reporting:
Short Term Indicators
- 20 Day Moving Average
- 20 - 50 Day MACD Oscillator
- 20 - 100 Day MACD Oscillator
- 20 - 200 Day MACD Oscillator
Medium Term Indicators
- 50 Day Moving Average
- 50 - 100 Day MACD Oscillator
- 50 - 150 Day MACD Oscillator
- 50 - 200 Day MACD Oscillator
Long Term Indicators
- 100 Day Moving Average
- 150 Day Moving Average
- 200 Day Moving Average
- 100 - 200 Day MACD Oscillator
Additionally, Barchart's composite "TrendSpotter" technical indicator is triggered as bullish.
Your No. 2 Potential JAN Catalyst
Because of that first potential catalyst, it's important to take note of JAN's share structure.
Yahoo Finance is reporting that JAN has a minuscule 1.38Mn shares in its float.
1.38Mn... That's all!
Why is that important? When a stock's share structure is such, volatility and price spiking can potentially take place in the flash of eye.
The slightest big of good company news can bring a ton of momentum into a profile and send shares vertical quickly.
With JAN's technicals triggered as bullish, it could create the perfect storm for a potential breakout if the right company news hits.
And, if there is one thing this company has been producing, it has been strong news as it could potentially become one of the top pandemic related stocks around.
Your No. 3 Potential JAN Catalyst
JanOne Completes Stable Formulation of JAN101 in Preparation for Its First GMP Manufacturing Batch to Support Upcoming Clinical Trials
JAN101 formulation ready for Phase 2b peripheral artery disease trials and for potential treatment of CV-19 vascular inflammation
LAS VEGAS, Aug. 11, 2020 /PRNewswire/ -- JanOne Inc. (Nasdaq: JAN), [...] together with its manufacturing partner, has successfully completed the formulation of JAN101, its potential treatment for Peripheral Artery Disease (PAD) expected to soon be in Phase 2b trials. In addition, JAN101 is planned for use to treat CV-19 vascular complications pending approval of the IND submission, expected to be completed in late August 2020.
JAN101 is one of the few promising treatments for vascular conditions using sodium nitrite that showed success in Phase 1 and Phase 2a trials for improving blood flow and vascular function. The company is preparing its IND packages for FDA submission for continued development as a treatment of PAD and to extend JAN101 to potentially mitigate severe organ and tissue damage caused by CV-19. The successful formulation of JAN101 will allow the company to begin its engineering run and GMP manufacturing for multiple trials expected to begin in early 2021.
"Working with our manufacturing partner, we have been able to successfully produce JAN101, our sustained release formulation and expect our engineering batch to begin immediately," said Dr. Tony Giordano, chief scientific officer at JanOne. "We believe we will have the initial GMP batch of 250,000 doses by mid-September 2020. This will provide us with enough tablets to carryout our proposed Phase 2b PAD trials and the CV-19 treatment study IND, which we are confident will gain approval."
The company will now focus on commercial production capability of JAN101 and is currently negotiating to purchase 1,000 kilos of sodium nitrite from a multinational biopharmaceutical company to support GMP manufacturing batches of more than 20Mn doses of JAN101.
Your No. 4 Potential JAN Catalyst
Even more strong company news that could potentially bring in momentum came out earlier this month. Check out this recent press release:
JanOne Engages CATO SMS, a World-Leading CRO, to Assist in the Development of JAN101 to Treat CV-19 Vascular Complications
LAS VEGAS, Aug. 6, 2020 /PRNewswire/ -- JanOne Inc. (Nasdaq: JAN), [...] has entered into an agreement with CATO SMS, a world-leading, international regulatory and clinical contract research organization (CRO). CATO SMS will assist JanOne in expanding its current FDA authorized Investigational New Dr*ug (IND) for JAN101, an oral, sustained release formulation of sodium nitrite, to treat vascular complications to potentially restore endothelial cell function in CV-19 patients. In addition, JAN101 is expected to enter Phase 2b trials in early 2021 to treat Peripheral Artery Disease (PAD).
A recent study published in the New England Journal of Medicine3 indicates the possibility that the respiratory complications from CV-19 may originate from restrictions and damage to the vascular system and endothelial cell dysfunction. The implication is that the endothelial cells that line the blood vessels are severely compromised and limit the body's ability to carry oxygen to major organs in the body, including the lungs. Previous JAN101 clinical studies have shown promise in repairing and restoring vascular function with minimal adverse events, which may potentially prove to be beneficial to CV-19 patients.
"If CV-19 is, in fact, a vascular disease that attacks endothelial cells restricting the ability of cells to deliver oxygen to vital organs, our sodium nitrite tablets could potentially offer a safe and effective treatment for that aspect of the disease," said Tony Giordano, PhD, JanOne's chief scientific officer. "By mitigating severe organ and tissue damage, JAN101 can potentially have a significant impact on the long-term health of these patients."
CATO SMS will work directly with the JanOne leadership team and scientific advisory board to execute submission of an investigator-initiated IND for use of JAN101 as a potential treatment for certain aspects of bodily damage created by CV–19. "We have all seen the devastating impacts of CV-19 and the severe damage it appears to cause to vital organs that may be a result from an attack on the vascular system," commented MerriBeth Adams, Senior Vice President, Regulatory Affairs at CATO SMS. "We are grateful for the opportunity to work with JanOne and to do our part to potentially bring such an important treatment to CV-19 patients."
In partnership with CATO SMS, JanOne is currently preparing an investigator-initiated IND package for the FDA, which it expects to submit in the coming month. If cleared to proceed by the FDA, clinical management of any ensuing research trials could start quickly and be conducted by Dr. Amol Soin, JanOne's chief medical officer. "JAN101 has a unique approach to treating end organ damage that may result from CV-19, which hopefully will help patients. I look forward to commencing human trials in Dayton, Ohio in the near future," said Dr. Soin.
JanOne's CEO Tony Isaac said, "Treatments for CV-19 complications such as those JAN101 is looking to address are essential, and we believe our decision to engage CATO SMS' expertise to guide us through the FDA's regulatory process is the right choice." In the future, JanOne looks forward to working with CATO SMS and the FDA to seek an emergency use authorization for JAN101 in CV-19 patients.
Coverage Officially Initiated On JanOne, Inc. (JAN)
Based on its bullish technical indicators, red-hot 6-month chart, a low float, and huge press releases, JAN requires your immediate attention in the short-term.