BriaCell (BCTX) Plummets 20.86% Amid Bearish Technicals and Equity Offering Uncertainty

Summary
• BriaCell Therapeutics (BCTX) trades at $7.70, down 20.86% from its previous close of $9.73
• Intraday range spans $6.55 to $7.9998, reflecting volatile trading
• Company announces $24.9M public offering of common units at $8.95 per unit
• Technical indicators show 3 sell signals, 2 buy signals, and a bearish SMA20/SMA60 crossover

BriaCell Therapeutics (BCTX) is under intense pressure as its shares collapse 20.86% intraday following a high-risk capital raise announcement. The stock’s sharp decline from $9.73 to $7.70—its lowest since December 19—coincides with bearish technical divergence and a $24.9M equity offering. With the biotech sector’s top performer Amgen (AMGN) up 0.3%, BCTX’s underperformance highlights sector-specific risks.

Bearish Technicals and Equity Offering Spur Flight to Safety
BCTX’s 20.86% intraday drop stems from a confluence of bearish technical signals and investor skepticism toward its $24.9M public offering. The stock’s price action—trading below its 200-day MA of $5.95 and SMA20/SMA60 bearish crossover—confirms a deteriorating trend. The equity offering, priced at $8.95 per unit (125% of the 12/19 closing price), signals desperation to fund operations amid a -0.44x dynamic P/E ratio. Short sellers are amplifying pressure, with a 18.27% short interest ratio and MACD (-0.279) and AO (-0.837) indicators confirming momentum decay.

Biotech Sector Mixed as Amgen Outperforms
The broader biotech sector remains fragmented, with Amgen (AMGN) rising 0.3% despite BCTX’s collapse. While BCTX’s -20.86% move reflects company-specific risks, the sector’s -89.42% 2024 drawdown and -91.82% 2025 decline underscore structural challenges. BCTX’s 52-week range ($6–$98.20) contrasts sharply with Amgen’s stability, highlighting divergent capital structures and growth trajectories.

Neutral-Bearish Setup: Key Levels and ETF Alternatives
• 200-day MA: $5.95 (below current price)
• RSI: 48.66 (neutral)
• Bollinger Bands: $7.46 (lower band) vs. $12.96 (upper band)
• MACD: -0.279 (bearish), Signal Line: -0.121

BCTX’s technical profile suggests a short-term consolidation near $7.46–$7.66, with a critical support level at $5.92 (SMA_60). The stock’s -3.89% 1-month forecast and -92.18% 2026 prediction from similar chart analysis (SNAP correlation) reinforce bearish bias. With no liquid options available, investors should consider inverse biotech ETFs like XBI or IBB for sector exposure. A breakout above $7.66 could trigger a rebound toward $9.00, but a breakdown below $5.92 would validate a -88.09% 2030 forecast.

Backtest BriaCell Stock Performance
The backtest of BCTX's performance after a -21% intraday plunge from 2022 to the present reveals mixed results. While the stock experienced a maximum return of 4.32% over 30 days, the 3-day and 10-day win rates were only 45.80% and 46.80%, respectively. This suggests that although there were some short-term gains, they were not consistently achieved, indicating a challenging period for the stock.

BCTX at Crossroads: Watch $5.92 Support and Equity Offering Execution
BriaCell’s 20.86% intraday drop reflects a critical juncture for the biotech. While the $24.9M offering aims to stabilize operations, bearish technicals and a -0.44x P/E ratio suggest continued volatility. Investors should monitor the $5.92 support level and Amgen’s 0.3% gain as sector benchmarks. A breakdown below $5.92 would validate long-term bearish forecasts, while a rebound above $7.66 could attract short-term buyers. For now, caution is warranted as the stock navigates a high-risk capital raise and deteriorating technical profile.