Biotech stocks can make huge moves, and this one is no exception.
TGTX more than doubled in a month and is showing no signs of slowing down.
Slower-trending, blue chip stocks tend to ride their 50-day moving average (red line on chart) on the way up.
Stronger stocks tend to hold their 21-day moving average (blue line).
But with high-flying honey badger stocks like TGTX, you are lucky to get a pullback to the 10-day (yellow line).
TGTX touched its 10-day exponential moving average on Friday, making this the first real pullback buying opportunity since the initial surge.
I would consider buying here with an 8-10% stop loss.
TGTX more than doubled in a month and is showing no signs of slowing down.
Slower-trending, blue chip stocks tend to ride their 50-day moving average (red line on chart) on the way up.
Stronger stocks tend to hold their 21-day moving average (blue line).
But with high-flying honey badger stocks like TGTX, you are lucky to get a pullback to the 10-day (yellow line).
TGTX touched its 10-day exponential moving average on Friday, making this the first real pullback buying opportunity since the initial surge.
I would consider buying here with an 8-10% stop loss.