This stock broke up from the flag and had a throwback ..A Throwback can hurt performance..A throwback differs from a pull back. Pull backs are healthy. Throwbacks occur when a stock breaks out then comes back to long entry level or below. Biotech stocks are volatile so I guess it is good to look at what you are dealing with (o:
Biotech stock and looks like this one has the potential to be volatile. Whenever I see highs made on long upper wicks, I feel I am dealing with a volatile stock and I will have to pay close attention when price gets near the highs. Not always, and it is just an observation. Sometimes stocks make a quick high, come back down, and if you are not sitting in front of your screen when blast off occurs, you miss the move )o:
Bull Flags often appear as rectangles that tilt down vs sideways against the prevailing trend. If you do not have a fairly quick price run up to form the pole, you do not have a bull flag . I have observed that the best performing bull flags have a near vertical pole. Price moves between 2 nearly parallel lines tilting downward. The pole needs to be long enough to support the flag, and should break out in a relatively short period of time (a month or less as a rule but every stock is different). If price goes on and on for a months in a down sloping motion, it is probably not a flag. Plus the flag gets too long and too heavy for the pole.
A common characteristic for bull flags is the typical volume pattern. Usually, there is a surge in volume as the stock builds the flag pole. Volume then drops off precipitously as the stock consolidates. The breakout from the bull flag often sees another increase in volume , although volume may not increase dramatically.
Not a recommendation.
Short interest is 9% and the ratio is 9.7. The short interest ratio indicates how many days it would take for all the shares short to be covered or repurchased in the open market. The ratio can rise or fall based on the number of shares short. However, it can also increase or decrease as volume levels change.
Biotech stock and looks like this one has the potential to be volatile. Whenever I see highs made on long upper wicks, I feel I am dealing with a volatile stock and I will have to pay close attention when price gets near the highs. Not always, and it is just an observation. Sometimes stocks make a quick high, come back down, and if you are not sitting in front of your screen when blast off occurs, you miss the move )o:
Bull Flags often appear as rectangles that tilt down vs sideways against the prevailing trend. If you do not have a fairly quick price run up to form the pole, you do not have a bull flag . I have observed that the best performing bull flags have a near vertical pole. Price moves between 2 nearly parallel lines tilting downward. The pole needs to be long enough to support the flag, and should break out in a relatively short period of time (a month or less as a rule but every stock is different). If price goes on and on for a months in a down sloping motion, it is probably not a flag. Plus the flag gets too long and too heavy for the pole.
A common characteristic for bull flags is the typical volume pattern. Usually, there is a surge in volume as the stock builds the flag pole. Volume then drops off precipitously as the stock consolidates. The breakout from the bull flag often sees another increase in volume , although volume may not increase dramatically.
Not a recommendation.
Short interest is 9% and the ratio is 9.7. The short interest ratio indicates how many days it would take for all the shares short to be covered or repurchased in the open market. The ratio can rise or fall based on the number of shares short. However, it can also increase or decrease as volume levels change.