demyanchuk
Long

Tripple bottoms' patterns: statement of continuing growth (ACAD)

NASDAQ:ACAD   ACADIA PHARMACEUTICALS INC
1 multiple bottom and 2 double bottom allow us to forecast growth in stock price.
Moreover there is a potential flag formation or, in other words, consolidation for next bulls' movement.

Our recommendation is to buy.

Entry point 37.00-37.50 (breakout of top flag's (consolidation's) line)
Stop loss 35.45 (-1 tic 35.46 current flag's low)
Take profit 42.50 (strong level+Elliot's waves approaches)
Risk/return ratio 1:3
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