EUR chart analysis.
Just my thoughts but the recent sharp drop out of the purple ascending channel wasn't a structural breakdown, it was a liquidity run.
This flush completely filled the massive price gap left behind from late April/early May and we just had a strong rebound at 36.55 eur.
What I see next:
First Target: 38.675
Secondary Target: 41.670
Invalidation If: We get a daily close below 35.437
I stay however cautious for more upside (above 41eur+ in short/medium term due to lack of catalyst).
keep in mind that their top drugs in phase 3 development might only reach the market by late 2029 (I expect results of phase 3 late 2027 beginning of 2028).
Just my thoughts but the recent sharp drop out of the purple ascending channel wasn't a structural breakdown, it was a liquidity run.
This flush completely filled the massive price gap left behind from late April/early May and we just had a strong rebound at 36.55 eur.
What I see next:
First Target: 38.675
Secondary Target: 41.670
Invalidation If: We get a daily close below 35.437
I stay however cautious for more upside (above 41eur+ in short/medium term due to lack of catalyst).
keep in mind that their top drugs in phase 3 development might only reach the market by late 2029 (I expect results of phase 3 late 2027 beginning of 2028).
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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.