ACAD: Next Big Thing In Biotech ??
ACAD starting forming a Triangle from its all-time high $51.99 way back in Jul 2015.
Prices have been consolidating for almost 2 full years which is almost identical to that of CELG.
CELG and biotech sector has been rallying lately as a whole.
ACAD could be the next in line.
A successful confirmation of its triangle will imply an upside target of its all time high at $51.99.
A aggressive entry at current price with SL at its recent low at $25.05
A conservative entry will be a strong break of its B-D trend line.
Key support: $20.68
Critical support: $16.64
Break of mentioned supports will imply other possible options.
Prices have been consolidating for almost 2 full years which is almost identical to that of CELG.
CELG and biotech sector has been rallying lately as a whole.
ACAD could be the next in line.
A successful confirmation of its triangle will imply an upside target of its all time high at $51.99.
A aggressive entry at current price with SL at its recent low at $25.05
A conservative entry will be a strong break of its B-D trend line.
Key support: $20.68
Critical support: $16.64
Break of mentioned supports will imply other possible options.
Comment:
Comment:
Consolidation appears complete.
Trade at your own time and target.
Happy Trading.
Trade at your own time and target.
Happy Trading.
Trade closed: target reached
