Futura Medical plc is a United Kingdom-based pharmaceutical company that develops products for consumer healthcare. The Company is engaged in the research and development of pharmaceutical drugs and medical devices and the commercial exploitation.
Looking for entry around the 50% retrace of last move up. With support from the 200ma around same level. Still not quite as oversold as I would like to see.
2:1 Trade.
8% or so RISK. Stop just below 61.8% FIB. Vs 20% REWARD.. Back to recent highs.
Fundamental and news flow aside. Activity in IMM last week may also potentially bring FUM back into focus?
Order cancelled
⋅
As suspected, price (re) action to the RNS dragged the price down considerably on open. Therefore the original idea is no longer a viable setup and FUM has now been moved back to the watchlist. Original trade idea cancelled.
Yesterday seen the entry point reached. However, following the RNS (2800W) this morning I will NOT be rushing in on this one now. The RNS appears to be putting a positive spin on a negative. Least that is how I see it.
So I will be sitting back and watching this one from the sidelines. I will re-evaluate any potential position after I have been able to observe the price (re) action to today’s RNS.
It is also highlights why I like to take a lot more notice of open/close prices, rather than lows and highs. There is never a need to rush in.
So I will be sitting back and watching this one from the sidelines. I will re-evaluate any potential position after I have been able to observe the price (re) action to today’s RNS.
It is also highlights why I like to take a lot more notice of open/close prices, rather than lows and highs. There is never a need to rush in.