DRRX approaching target set on July 3
DRRX breaking up a symmetrical triangle & same for money-flow. Technically it looks good so we took some speculative Jan2017- 2.5 Option calls. You can check our detailed analysis on _ in the trading room/ Executive summery link here- www.youtube.com Time Span: 6:40” Trade Suggestion Date: 12th Jul Trade Status: Opened (12th Jul) Jan2017- 2.5 call for $0.35
Possible Reverse pattern from bearish to Bullish Wait and See...
Potential flat top breakout. Should incur a small pullback to the 20 DMA to give a accessible low risk trade with the stop just below the DMA.
It looks like money is starting to come back in. It's a possible catalyst to push it to breakout levels.
DRRX looks like it wants to breakout soon. Overhead resistance at 2.60. Buy if it breaks through, Target is 3- 3.30 set stop at around 2.36.
.618 reach resistance @ 2.61 if today close above it, it will continue to 3.05
DRRX looks ready to break through resistance on an ascending triangle. Look for a target price above $3 at around $3.30.
Next tight close next to the 20 DMA i'll be going long with a stop just under.
Is this a classic example of Elliots Wave theory, the 5-3 wave pattern ?
Bounced off 50 daily. Worth a look past 200 weekly.