ETrades1

RARE 5 yr Desc. Triangle Breakout (Weekly)

Long
NASDAQ:RARE   Ultragenyx Pharmaceutical Inc
Weekly breakout of 5 yr descending triangle . 2 PDUFAs coming: 6/18/20, 7/31/20 (https://www.biopharmcatalyst.com/calenda...)
Comment: Really nice breakout and pullback to breakout level with strong follow through, up 7% today. PDUFAs aside, market is saying it likes this stock. I am not in this stock currently, but it is a top 3 priority add on a broader market pullback. Long term consolidation is clear, breakout is clear, I like it. Keeping a close eye.
Comment: Weekly chart looks great, will see $100 easily

Comments

THX!
+1 Reply
Where is it going to go before 6/18?
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ETrades1 tom3kk
@tom3kk, stock has broken out of channel, pulled back to support at breakout level and looks like it will run up higher from here. I think it could see $90 before the PDUFA on 6/18 which could bring a continuation higher or a sell the news event. Just my opinion. If it were me I'd play the run up prior to the announcement, i'd buy it here and look for 10% - 20% in profit
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tom3kk ETrades1
@ETrades1, Thank you
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