Hi folks, Yurii Domaranskyi here. Let's take a look at the chart.
We have an all-time low,
sharp approach to the level,
after a false breakout of 4.82 price level no move down and the stock closed near the level. Looks strong.
Potential risk/reward ratio = 1 to 5.09 meaning that I'm risking a 100$ with a possibility to make 509$
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WAVE Life Sciences Ltd is a preclinical biopharmaceutical company based in Singapore. It owns a diverse pipeline of nucleic acid therapeutics meant to address rare genetic diseases related to the central nervous system, muscles, eyes, liver, and skin. Its nucleic acid therapeutics target genetic defects to either reduce the expression of disease-promoting proteins...
Lower lows, beginning of impulse wave identified. Does not look like a corrective pattern. NFA.
I have identified nice point on the Fib Extension, Invalidation level in red as always.
Anyways, I am longing this one once again.
I will be following this space closely.
- Check the weekly trendline before going bullish on this
- some might say that this could be a breakout but there's a head and shoulders patter in 3 hrs frame
- wait for a move and then enter or exit from this
- most of the patterns are showing a bearish trend only
- this is just my opinion