timwest

ACAD low risk long entry

Long
BATS:ACAD   ACADIA Pharmaceuticals Inc
1271 views
Volume and price patterns in ACAD are giving me a reason to enter the market here.

ACAD is trending strongly on a longer term basis. Price momentum on a quarterly basis is solid and it is retesting the breakout level after a tough week in the overall market last week. The advance by ACAD from 2.30 to over 3.00 was on a solid increase in volume , indicating strong, new shareholder interest and long term support. The recent slide from 3.00 back to 2.20 was on lighter volume , indicating a "wait-and-see" attitude from the new shareholders.

I view $1.80-$1.90 as the stop loss area, which is a wide stop, but I feel it is necessary on a stock that can move 10% or 20 cents in a day.

Thanks to TradingView publisher @LiljaCat for pointing out the chart originally or else I wouldn't have wandered into such a new, low-priced stock.
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Comments

wow.. nice call
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timwest QuantitativeExhaustion
It's nice to see a big move on a technical+fundamental idea. Nice team-work by everyone on this one! This is what TradingView is all about for me. Thanks TradingView.
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Algokid timwest
Great Job Tim....Guess the result from the tests were good. :)
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Nice action today to the upside :-)
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admin timwest
Bullseye!
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Interesting chart, what about waiting until it breaks ~2.30 again with 2.30 as stop, or buy around 1.95-2.05 and stop out at 1.85?
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timwest marginofdoubt
What did you decide to do? The stock is tracing out the shaded projection pretty closely so far.
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I bought ACAD @ 1.79 back in August. Just was waiting for phase 3 clinical test results schedule sometime for November. Pure speculation trade here for me .
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Algokid Algokid
Just waiting*
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timwest Algokid
Ok. Thanks.
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