Considering the current oversold quanitifcation in-regards to the RSI, there is a strong possibility that there is bullish momentum forming.
Not Investment Advice. For Educational and Analytical Purposes Only. (Be Conscientious and Stick To Your Plan).
Here is a good resource for more stocks like this www.biopharmcatalyst.com
The only stocks I trade currently are biopharma stocks with FDA approvals coming. I know the date there will be price action just need a good entry.
This looks like it could be a nice bounce play off the trend line that has formed. So far it is holding trend line. I would not FOMO into this, but wait for a nice patient fill just above the trend line. Have a tight stop in place incase we break below trend. If we close a daily below the trend, you could probably enter a short in at the trend line.
ADMP seems running within a long-term downward channel. It had 4 touches in the top channel line & two powerful run from the bottom with strong twiggs money flow divergence. We think it has strong upside potential.
* Trade Criteria *
Date First Found- April 18, 2018
Pattern/Why- Downward Channel breakout Long
Entry Criteria- $4.07
Exit Criteria- $5.43
Incredible volume today after a breakout of its resistance. Is one we have been watching since it appeared on our Fallen Angels scan in June. Our entry signal from class was a break of the 9 and 20 moving average and as that occurred today the stock SOARED. Lots of upside potential with close to 4:1 Reward to Risk Ratio or more.