BMRN declining stock price got rejected at support level at 86, will this cause the stock to rise in coming days?
N.B!
- BMRN price might not follow the drawn lines . Actual price movements may likely differ from the forecast.
- Let emotions and sentiments work for you
- ALWAYS Use Proper Risk Management In Your Trades
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NASDAQ:BMRN finds itself at a point of fight or flight, cornered and being pinned below all-time highs and just above the 0.5 retracement level. A lot can be said about this company: battles with the FDA following the Martin Shkreli controversy, having product approval delayed, and dealing with the monotony of the pandemic and the subsequent rise and fall along...
BMRN is at a downtrend from 117 in Feb
since then it has made some recovery but overall trend is bearish
At the moment its making an upward moment from the bottom of the channel and there is a chance to catch it right now
Entry @ 83-85
SL @ 78-80
TP1 @ 92
Possibly a bottom formed, time will tell.
3 year high is 131.95 and 3 year low is 62.88. ATH is 151.75 but price gapped down dramatically from this level in the past.
The top appears to have been in a rectangle that broke to the downside. The bottom trendline of the rectangle is now resistance. The resistance of that bottom trendline has knocked price away...
BMRN: BioMarin Pharmaceutical Inc.
2020-10-07 08:31:00
BioMarin, Pioneer in Rare Disease Treatments for Phenylketonuria (PKU), Receives FDA Approval of Label Expansion to Allow Maximum Dose of 60 mg for Palynziq® (pegvaliase-pqpz) Injection for Treatment of Adults with PKU
BMRN selloff seems to be over and this is a possible entry point, some resistance at 80 but if we breach 80 we might se 88 shortly after. Very volatile market.
Your thoughts.. is this a stock worth investing in?
Stay safe,
Ev
