During the fast-paced Lightning Round segment of Wednesday's Mad Money program one caller asked host Jim Cramer about Inovio Pharmaceuticals (INO) . "That's a speculative stock that hasn't delivered," responded Cramer.
When we reviewed the charts of INO back on April 9, we wrote that "Maybe INO will create a blockbuster treatment but right now the charts are not promising."
The shares have continued to sink lower, but let's kick the tires one more time.
In the daily bar chart of INO, below, we can see that earlier this month prices gapped lower telling us that there is still more downside risk and traders are anxious to sell. The slopes of the 50-day moving average and the 200-day moving average are bearish.
The On-Balance-Volume (OBV) line is not offering hope. The Moving Average Convergence Divergence (MACD) oscillator is below the zero line and bearish.