SNY and TBIO buttoned up the news this morning sending a bunch of other biotech stocks running higher. Now that this is out of the way, levels could be important for longs looking for "what's next" and the 236 Fib level seems to be that area to watch. It was an area that the volatile SNY stock settled above for weeks and now is an area it hasn't been able to...
I don't have a position here, but watching to see how it acts. I'd like to see some buying at the 10-day and at prior highs. The question is whether the breakout was a fakeout or if this is just a retest. We'll know soon enough.
It hit the trend resistance, rsi broke the trend though. This stock would be healthy after it broke $13. However, weekly volume is well above average for two weeks.
TBIO had a wonderful move & now consolidating within a Pennant formation. If it can breakout $1.90 it can easily hit $140 & higher. * Trade Criteria * Date first found- February 9, 2017 Pattern/Why- Breakout trade, Pennant formation. Entry Target Criteria- Break of $0.90 Exit Target Criteria- First target $1.20, Second target $1.40 Stop Loss Criteria- N/A...
TBIO is in a strong downtrend, trading in a descending wedge. It is a dangerous stock trading at 0,30 $ but it has a good potential to bounce on the lower trendline.