Analyzing the options chain and the chart patterns of AUPH Aurinia Pharmaceuticals prior to the earnings report this week,
I would consider purchasing the 7usd strike price Calls with
an expiration date of 2024-3-15,
for a premium of approximately $1.50.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Price has broken out of a down channel
I see this breaking down slightly back into the channel, forming a right shoulder along the yellow horizontal and then continuing to pursue the reversal above the channel
Lets see what happens on this Weekly chart
Bars pattern in green shows my idea
After a month of sideways chop, perfectly contained by 7.67 & 6.99 (ORANGE), we now have a path towards higher levels at 10.23 (RED dotted line). S/R's.
Market trading sideways, strong $10 support level. High volume candle with long lower wick rejecting support. RSI at potential double bottom level. Historic support level, showing high potential for reversal to the bull side.
41% retracement from head to neckline, so 41% from neckline puts it at $10.50. There are multiple horizontal support zones, see chart that also correspond to this zone $9.50 - 10.50. Greenleaf (CEO) is a complete clown. Issuing a statement last week that guidance will likely be aggressive then he issued guidance that was approximately 30% below the analysts. ...
Noticed Auph broke the 200ma did some quick analysis which means jack all but if we continue on this upward trend were likely to see a breakout soon. TA is based on pivot points with supports. Box means support confirmed over a few candles, ellipses is looking for past supports. This isn't investment advice this is some bored dude just jotting down risk to reward...
AUPH: Aurinia Pharmaceuticals Inc.
2021-12-09 06:15:00
Aurinia Announces Positive Topline Results From the AURORA 2 Continuation Study of LUPKYNIS™ (voclosporin) for the Treatment of Adults With Active Lupus Nephritis (LN)
Bullish pennant on this pharma stock.
Continued rise since Juns 2021.
This pennant is not confirmed still. Will prabably be this coming monday.
Price target = 42.77$
Stay Humble, Have fun, make money!
NASDAQ:AUPH
Possible Scenario: LONG
Evidence: Price Action,
I'm pretty sure about it, this is one of my main positions early morning.
I expect it hit the Fibo level 100% at 25$ this week, most likely tomorrow
Call options, strike 25$, 10/15/2021.
*This is my idea and could be wrong 100%.
Wedge breakout, revisit trendline
ABC Patten:
Swing A crossed SMA50 (1st) and SMA200 (2nd), Wave#1
Swing B tested SMA200 as support. Wave#2
Swing C will be not less than A; Wave#3
Entry 16
Stop 14
Target 22
I am not a PRO trader. I trade option to test my trading plan with small cost.
The max Risk of each plan is less than 1% of my account.
If you like this...
Tons of money to played in this, constant up and down trend. Either short when it hits the channel trend line top, or go long at the channel bottom... I would rather be the bull in this situation though... so I would hold out on a entry.
