winstox
Long

ZYMEWORKS - ready for a strong move UP

NYSE:ZYME   ZYMEWORKS INC
This Biotechnology company which has several positive analysis from experts of the sector has a quite interesting chart.
I believe that we are entering in its Wave 5 and my target Price is set at much higher levels.
Above $16 I expect it to gain thrust.

What I like here are the following:
- It already gave 3 Waves and number 3 was quite impressive.
- Wave 4 ended exactly at the 2 lines that you can see on the chart.
These lines are my major levels for Positive or Negative behavior of a stock on a daily chart .
- Positive Volumes started to appear during the last days.
- The morphology of price movement after Wave 4 is solid for i and ii of 5 so I am waiting for a continuation now.
- I also liked what I read in several analysis for the company's projects (but this has nothing to do with Technical Analysis ).

Note: I opened a position yesterday and will increase it above $16
Comment: A note on Zyme since it is falling at this moment by 7%
As long as the price remains above $13.35 the projection mentioned
at my earlier analysis of today, remains intact.
If $13.35 is violated then the counting is cancelled and we have
a more complex pattern.
Trade active: IMPORTANT
What is very important for the viability of Wave 5 up is the level in which we had Wave 4. We do not want that ZYME drops below $12.
Trade active: It looks ready to move on...
check your chart again , just pop up again
Reply
winstox mralexsell
@mralexsell, hi. It did the same thing in Sept. Therefore since the stock remains within a specific range for a long time, the Buy should be set when it crosses $17.
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