follow_the_money

ARTX - Weekly 7-10-19

Long
NASDAQ:ARTX   None
102 views
6
Downside:
- ARTX has been forming a long term downward channel on the weekly chart

Upside:
- RSI is at 27...signalling an oversold condition
- Over the past 11 years, when ARTX reached an RSI <30, it ran >250% twice
- Current price is near the bottom of the downward channel
- The $1.92 level has served as support twice, and now appears to be resistance, I am looking to see the stock price go above this level and use it as support once again

Comments

Perhaps more aggressive than you thought. Do you still think we could still reach the upper trend line?
Reply
@jawm42, that blue 20 day moving average is almost the equivalent to a mid-line of the current channel $ARTX is running in. Price is right against the mid-line right now. If we are going to reach the top of the channel, I would like to see a break through the mid-line.
Reply
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