Is slgl bullish now?

Sol-Gel Technologies (SLGL) is not currently forming a bullish pattern. In fact, the stock is showing signs of potential bearishness:

1. Recent Price Movement: SLGL's stock price has experienced a significant drop of 31% over the last thirty days, which indicates a bearish trend.
2. Technical Indicators: The stock's technical indicators, such as the MACD, RSI, and KDJ, suggest that the stock may be overbought or due for a pullback. The Bollinger Bands are also indicating a potential price drop, with the stock trading close to the upper band.

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SLGL Trend

3. Market Sentiment: The consensus rating for SLGL is "Neutral" with a "Bearish" sentiment, indicating that analysts are not optimistic about the stock's future performance.
4. Strategic Moves: Although SLGL has secured a licensing deal with Mayne Pharma, the company's focus on refocusing its efforts on advancing its innovative pipeline rather than a direct bullish signal.
5. Financial Position: SLGL is facing a cash burn problem, with a negative free cash flow and a history of cash burn. The company's financial position is also under pressure, with a negative net margin and a negative return on equity.

In conclusion, despite the recent positive news about the licensing deal, the overall sentiment and technical indicators suggest that SLGL is not currently forming a bullish pattern. Investors should exercise caution and consider these factors before making any investment decisions regarding SLGL.