Biotech Stock with positive phase 2 results. HOT setup
"La Jolla Pharmaceutical Co. (LJPC) on Thursday reported positive results from the interim analysis of its phase 2 study of LJPC-401 (synthetic human hepcidin) in patients with hereditary hemochromatosis."
Don't know what that is but this setup is fire.
Break out the top of the wedge we get 12% roughly. 12.88 looks to be next potential resistance. Then 13.47 then stronger resistance at 13.86. Break those and who knows.
We also bounced off the 200 SMA on the daily so upside could be magnified OR we just found the top.
Based on the wedge we are forming under it I think it just might break.
Currently the stock is SHORTABLE AS WELL. We will see if it is HTB in the morning.
Break out the bottom of the wedge and we have very low support all the way to 8.88 and even then we don't have solidish support until around 8.16
This is a low float stock as well so it will MOVE FAST. I would not recommend holding.
In fact I would not recommend doing anything with your trades or investments as I do not have the proper certifications to do so.
I do recommend liking this post and subscribing if you wan more like it.
Trade closed: target reached:
Worked both long and short :)