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LivermoreGrahamDisciple

BTAI Symmetrical Triangle Breakout: Potential for 100%+ returns

Long
BioXcel Therapeutics, Inc. (NASDAQ:BTAI)  
LivermoreGrahamDisciple  
NASDAQ:BTAI   BioXcel Therapeutics, Inc.
Chart Patterns Triangle Fundamental Analysis BTAI trianglebreak trianglebreaout trianglebreakpattern Symmetrical Triangle upside Bullish Patterns fundamental-analysis
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chartpattern triangle fundamental btai trianglebreak trianglebreaout trianglebreakpattern symmetricaltriangle upside bullish fundamental-analysis
BTAI has just broken out of a nice bullish symmetrical triangle formation. As you can see from my chart the breakout was backed by strong volume as it occurred at a significantly higher level of volume than seen during the consolidation phase. Now that the breakout has occurred you can also see my GMMA oscillator is dying to cross over into the green. The last and only 2 times the GMMA oscillator turned green on the 1 week chart it was followed by major price run ups. The first time we saw price rise from $5.60 in late December 2019 to $43.75 by Mid February 2020. The second time this occurred we saw price rise from $22.50 in mid April 2020 to $71 by mid July 2020. If we have another strong crossover into the green I fully expect another major run up in price. In addition to T.A I have also set a price target of $105 based on fundamental analysis. When coming to this number I was pretty conservative in my calculations and feel that the real upside may be even higher than this $105 number. Overall I am feeling very bullish on BTAI.
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