PharaohsMine

EPZM Thoughts

Long
BATS:EPZM   Epizyme, Inc
0
A huge gap up on massive volume created a 100% increase in 5 days, that constitutes a flagpole in my eyes. I would like to see the price trade tightly and wait for the rising 20ema to meet it, if so I like entry there. The past 4 days of higher lows is telling me it wants to take off again without waiting, despite the elevated rsi . A break of yesterdays high of $39.09 could send it runing again. Could see another $20 eventually with a high volume break above $42-42.71, but I need to wait for a better risk to reward entry level and am willing to miss out on it if it doesn't take some more time to unwind and offer me entry closer to the 20ema.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.