BLRX had a strong rally today and it's just getting started.
In the related idea my price target was $1.34.
Today's high was $1.78
Check out the weekly chart:
Photo Finish.
$1.34 was 1.618 extension level from Waves 1 & 2.
Since the price-action broke $1.34 we will have an extended 3rd wave.
I expect a very strong rally tomorrow, I will update in the morning before the open to confirm.
Target is hard to predict since its impossible to know what level extending waves will terminate.
I will keep a close eye on the price-action.
Will update.
-AB
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As expected, a very strong rally today!
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We got a big runway...
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Reminder this is a WEEKLY chart...
Meaning this move is far from over...
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Buckle up!
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Target $2.24 (Sell Half)
Trade Price: 1.049
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Bull Flag
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BLRX will rally again tomorrow.
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BLRX is about to rally again...
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BLRX continued to consolidate today.
Staying the course...
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Near-Term Target: $2.13
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Primary Wave 1 Complete
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03:21 PM EDT, 10/22/2018 (MT Newswires) -- Oppenheimer has kept its outperform rating on BioLineRx (BLRX) with a price target of $3, betting on BL-8040's commercial opportunity as a stem cell mobilizer after top-line data from the COMBAT/KEYNOTE-202 trial of BL-8040 in combination with pembrolizumab in advanced pancreatic cancer showed modest response rate. "Given the combination's favorable safety profile, BioLineRx and Merck (MRK) are testing a triplet combination including chemotherapy in an effort to increase response rate," analyst Mark Breidenbach said in a note. "While we believe the triplet combination is worth testing, our valuation of BioLineRx still remains focused on BL-8040's commercial opportunity as a stem cell mobilizer."