Summary
* A big price move is expected to come soon for ADMA!
* ADMA is testing a major price level at $1.83!
* A bottom is not clear yet. The stock is still in a downtrend, but a short term upside move
is likely if the bulls can hold the price level from $1.52 to $1.83.
ADMA Biologics, Inc with the stock symbol ADMA is a biotech company focused on plasmaderived
biologics for the treatment of immune deficiencies and infectious diseases. The
stock is testing a major support price level again at $1.83. A big price move is expected
very soon and it could be a bullish or bearish breakout.
From the technical standpoint of the bears, the next price will be lower if the bulls cannot
defend the price level from $1.52 to $1.83. In that situation, a bearish three weeks pattern
will form, and I think it will be similar to a bearish concealing baby candlestick pattern. If
that is the outcome, the stock will hit a new 52 weeks low.
From the technical standpoint of the bulls, the next price move may be a bullish breakout
gap forming a three weeks bullish candlestick pattern also commonly known as an
abandoned bullish baby. If that is the outcome, a long trade with a price target of $2.69 is
expected.
The stock is currently still in a downtrend. I am still bearish and expect a lower price move
to come if the bulls cannot defend the price level from $1.52 to $1.83. I am short term
bullish if the price climbs higher to $2 with high volume.
A significant increase in volume since January 2020 indicated that a lot more shares have
been exchanged, but volume has been lower each week since October 2020. That is an
indication that the selling may has come to a stop. This further supports my small idea that
a big move will come soon.
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From the desk of Greenfield Analysis
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any
positions with 72 hours.
I wrote this article myself, and it expresses my own opinions. I am not receiving
compensation for it, and I have any no business relationship with any company whose stock is
mentioned in this article.