Here we see the classic Bearish Crab formation starting... it will terminate at $2.90.. possible weak to medium retrace afterwards , but these are aggressive patterns and the overall market is bearish...but there is always a chance it does not go into full bearish retrace as they are involved with CV19 development right now.
Its one to watch! Sometimes retracement may possibly come as early as $2.77 or later at $2.35. versus full bearish formation. If these patterns are to be bullish in their momentum- expect a deeper retrace to shake out weak hands- as with GM chart which had a 48% retrace before going bullish. So if you didnt get in now- perhaps waiting for the retrace may fair better. CHEERS and there are PROFITS to be made :)
Its one to watch! Sometimes retracement may possibly come as early as $2.77 or later at $2.35. versus full bearish formation. If these patterns are to be bullish in their momentum- expect a deeper retrace to shake out weak hands- as with GM chart which had a 48% retrace before going bullish. So if you didnt get in now- perhaps waiting for the retrace may fair better. CHEERS and there are PROFITS to be made :)
Comment:
NOTES to the ppl following. Harmonics are not 100% born to do what the pattern states... the bearish harmonic here did manifest to the price point noted... ..after it manifests it can also fail and usually when they do.. Failure of a bearish harmonic is a reversal to the upside and usually (but not always) happens at or around the 50% retracement point as is the case with BCRX. Some may feel the call on this chart is incorrect, but the pattern completed exactly as planned to the penny. I did not include the short or Price reversal zone on purpose. Its the reversal that ppl see and think the call is wrong- and that is actually why ppl fail in trading. I do not always trade reversals on volatile stocks (as here).. and so that is not in my analysis. Theis bearish manifestation happened- and the reversal took place early at 50% retracement. These can be tricky to trade and there is no price or time marker for their occurence. The main take aways for my call are- to get the definite gains going up. The short could have been at 50% OR 1.81 cent.. as we see here it took place at 50%. I have seen some on this formation retrace only to 88% as well... short reversals. don tbe greedy- get your gaisn and get in and out... esp in this market. Live another day with your profits :)
Comment:
BCRX goes above 4.25 it will be on a very bullish run esp after the good revenue news.
Moorsc0de aka Crypt0nomics aka Zaphkiel
