Attempting to breakout of a large down channel
Price has already moved out of it.
Bars pattern placed shows my thoughts of a spike out of the down channel and the bulls taking control.
If this does not occur assume bear control still in play.
Price is currently squeezing, with a 50/50 chance of breaking above or below. So, all we have to do now is wait for a bullish candle to appear and break above USD4.50 with strong bullish momentum as a final confirmation.
In this post various similarities are displayed, corresponding to the same color
Both double bottoms on 1.618 (in yellow)
Both tops at 1.618 (in red)
The positioning above the 200 day moving average as of current is also an extremely bullish sign
Because of the convergence we see in the chart and the RSI, and the gray support range that indicates the fall to that range has not been seen, we will probably see that the chart experiences some re-fall. If the pull back up, we will have price growth up to the gray resistance range. And God knows
Sector: Health Technology
Industry: Biotechnology
Arbutus Biopharma Corp. is a biopharmaceutical company. It engages in discovering, developing and commercializing a cure for patients suffering from chronic Hepatitis B virus infection. The company was founded in 2007 and is headquartered in Warminster, PA.
New Target : USD 4.91
Resistance 2 : USD...
ABUS CMP - $4.38
Looking bullish in higher time frame. One can go for Positional Trade Setup with the following entry, exit & targets.
Buy Range $3.90 - $4 ONLY / Stop Loss $2.95
Target 1 - $5
Target 2 - $7
Target 3 - $9
Disclaimer: This is my view and for educational purpose only.
Pupm&Dump trading strategy idea.
$ABUS is rising too much today.
The demand for shares of the company looks lower than the supply.
This and other conditions can cause a fall in the share price today.
So I opened a short position from $4,46;
stop-loss — $4,74;
take-profit — $3,92/MOC
Do not view this idea as a recommendation for trading or investing. It is...
ABUS has reached it weekly resistance (ORANGE LINE)
creating a break of structure showing selling pressure
Entry will be in if this candle shows healthy bearish pattern creating a LH with RSI dropping below 55
Thats all from me LADS, HAPPY TRADINg ;))
As you can see, ABUS has tested its WEEKLY resistance (ORANGE LINE) and break of structure has occurred.
Hence, we will be going for short positions, entry will be after retests and look for short biased positions to avoid any false breakouts
Thats all from me LADS, HAPPY TRADING ;))
Currently at resistance and I'm not sure what's going on with this stock but I wanted to draw something up. I don't have a position on this stock. Also click on the Like Button if this was useful and follow/join me.
Lookin at a decending wedge, you have price touching the bottom trendline of a rising channel.If price falls below this zone your looking at the next zone below between $1.85-$1.61. Coming closer to the bottom of this wedge I don't see price retesting the lower trendline of the wedge, but anything is possible. 1st target looking at $9.75, if we get past that I'm...
