It is rare for a biotech company to be very good at forming and executing patterns. Here, the price movement obeys the technical analysis
patterns, which gives confidence in the achievement of the current target of the trade. A large Triangle has been formed, broken upward (see the level of $ 143 and a circle at this price), with the simultaneous formation of a right triangle, which is an attempt by the security to gain a foothold above the former resistance level
, which is now greater than the support level
. This triangle has also been broken (see the top turquoise circle), and now there is nothing to prevent the paper from achieving this target of $ 172.74. Of the features of this trade - there is a false breakout pattern (bear trap), in the form of a reverse H&S
pattern, which in the technical analysis
is recognized as a strong sign of growth, it was possible to enter a position on the breakout of the neck of this reverse H&S
with great confidence.