HRTX has been suggested by various trading websites as a potentially explosive penny biotech stock for 2024. It has experienced excellent price actions since an earnings beat in November. It beat the estimates; that is to say it burned about half as much cash as the analysts estimated the it would. Today it pumped 11%. Relevant articles can be found compiled...
Heron Therapeutics, Inc - a biotech company whose main products are drugs for nausea and vomiting caused by chemotherapy (CINV), as well as painkillers. Capitalization of $1.2 billion. Located in San Diego, USA. In May of this year, the company received FDA approval for its "breakthrough" pain medication ZYNRELEF, which will change in surgery. ZYNRELEF is the...
There are very clearly visible daily order blocks on both side of the price. Wait for price to come to those zones and then look for rejection on a smaller time frame - then trade along.
These bounces are as prescribed. Establishing longer support and resistance. Personally I think we will blow through resistance in the near future.
trendline downward slope was duplicated and moved for upward projection before it occurred. Touched it like clockwork and retreated. I believe we will make a higher low at $21 and then back to touch trendline and possibly break for a higher ATH. To touch the upward trendline somewhere around $26.
Nice W formation with higher low long term. I believe this may break the upper trendline and make a run past all time high. At which point a short squeeze will be imminent. Earnings were just released a few days ago and were negative as expected. The selling of weak hands during this time allowed HRTX to make its move higher as it always does the days after...
Overall I am obviously bullish on HRTX. I pay closer attention to it than necessary as I have options expiring each month. You can see the minor trends of support and resistance as well as the overall move.
This stock has the possibility of a buyout and short squeeze. Looks a lot like a bull flag to me. Bounce off 50 Fib and up we go? By the time everyone starts seeing this stock we will be at $40. Not financial advise. Just my opinion. Good luck out there.
Bounce off of 21. Minor break of trendline due to fear. Not adjusting anything except to bring Fib more into time frame. Up we go.
Looking at the trend line and RSI this pullback was imminent. I would look for a bounce off 21 if it goes any lower. Buying in after hours may not take this much lower as I believe this is a trap. I'm long on this.