NYSE:BHVN Another interesting paper. Couldn't take the historical level at 55.96. It was a long-distance retest. Rolled back down a bit.
These are possible scenarios for this trade: 1. A breakout of the level, however, it's obvious there will be a pullback. The priority is to go to a false breakdown with a technical SL. But it's pharmaceutical, you have to be very careful with short. 2. Level breakout, rollback and fixation above the level. Enter the long after retest. short SL under the local level.
No matter what strategy you are trading on, the scenario is good that they have short SLs. Trade wisely!