Went Long Last Friday $55C and then opened position for $54C today.
Looking at a gap fill around 54.64 with possible continuation to 55.6 for next week.
Nice ascending triangle pattern with 53.45 being breakout area.
Based off todays move I see that and more to come.
I believe that successful trading strategies rely heavily upon identifying consolidation zones. Consolidation zones provide us the right direction of the market. Consolidation happens when a market move sharply upside or downside. Later, a trader can use these consolidation zones to identify patterns, whether it be continuation or reversal.
It requires attention...
BAC is in the resistance of 24 USD where it have been for the past days, if the daily candle close like a shooting star of a doji, I would expect to see BAC in 23.35. If gets here, we could see a double top to continue short to 22.70.
On April 6, 2017, the Bank of America Corporation (NYSE:BAC) 20 day moving average (MA) crossed below its 50 day MA. Historically this has occurred 83 times and the stock does not always drop. The stock has a median loss of 2.296% and a maximum loss of 15.389% over the next 7 trading days.
When we take a look at other technical indicators, the relative strength...
$USRM is currently awaiting RMAT designation which approved (And there is a 90% or higher chance it will) gives it similar qualities as Breakthrough Therapy, Accelerated Approval, and Priority Review. Basically, they can provisionally approve the drug or device for marketing and then provided the drug or device proves safe and reasonably effective, they will gain...
Let's recap $IDXG CC:
1. New York State and AETNA approvals of ThyraMIR®, microRNA assay
2. Talked about the Debt being restructured
3. No more offerings
4. Reduced operating costs
5. Talks of doing business with their BarreGen model
6. Talks of partnering with another bio he didn't discuss.
7. EPS value of $3.25 vs -($12.04) same quarter last year...
near 23. Bearish momo could possibly reach 20 easily. But there will be support bounces along the way. If bulls step in some, it may find support near 22 before testing lower. Patience pays if looking for a better price.
Obey your rules.
Good short entry for BAC on the bearish engulfing pattern.
This is further confirmed by the past three days of trading attempting to push the stock up and failing.
Tentative price target is 23.47 but as always, monitor for new levels of resistance.