After breaking to higher ground a week ago on enormous volume, shares of DURECT CORP - NASDAQ:DRRX finds themselves consolidating the recent thrust in a Flag pattern on lower volume as we can observe from the Daily chart above.
In addition, DRRX is now trading above all of its important moving averages 20/50/200 DMA's, which from a technical perspective, is...
DRRX bouncing off its longterm support after a huge decline. Now it seems forming nice fallen angel formation with a higher low double bottom. We think it has good upside potential from here.
* Trade Criteria *
Date First Found- November 21, 2017
Pattern/Why- Fallen angel, Double bottom
Entry Target Criteria- Break of $1.12
Exit Target Criteria- 1st...
DRRX breaking up a symmetrical triangle & same for money-flow. Technically it looks good so we took some speculative Jan2017- 2.5 Option calls.
You can check our detailed analysis on _ in the trading room/ Executive summery link here-
Time Span: 6:40”
Trade Suggestion Date: 12th Jul
Trade Status: Opened (12th Jul) Jan2017- 2.5 call for $0.35