ABMD has expanded the monthly range down and is at a very strong support zone here, hitting a high volume level, close to earnings support and the yearly SMA. We can enter longs risking $14 downside, and aiming for $30+ upside. Each time we expanded the monthly range down, we had higher prices in the next 3 months, on close, from the monthly close (which now is only 2 sessions away), 9 out of 10 times since the 2009 low.
Good luck,
Ivan Labrie.
Comment
⋅
And $5 higher...looks good, up for the day/week.
Comment
⋅
Not bad huh?
Comment
⋅
This is a good area to add or reenter if you booked profit: 109.49
It's a longer term setup, it can go up for an extended period of time. On average the return has been 25%+ after having a similar signal to this one in the monthly on previous occurrences.
ParCorn
⋅
Thanks Ivan. Picked up some cheap 115 calls. low risk high reward :-)