1. Horizontal price levels are working well on the stock
2. Weaker than the market
3. Globally and locally downtrend,
4. Price level confirmed by touch and false breakout
5. Distant test
6. Approached with paranormal bars
7. The instrument has energy
8. Point of the trend reversal
9. Potential 10 to 1
Down 50% since August 2018, but up 50 since August this year. Still a lot of upside.
Increasing momentum and hopefully establishing a positive trend channel.
Buy at: 12,60
Stop loss: 10,50 / 16,7%
Target 1: 13,00 / 3,0%
Target 2: 18,50 / 32,0%
Stop loss can probably be set tighter, ut I'll allow some room. Can move it higher later.
Watching AMAG consolidation as very healthy on the daily chart. Clear 15min downtrend right now and potential hourly eq. I'd like to see this break on big volume and I'd be looking for the last weekly resistance to break and the gap above to fill also.
Without taking fundamentals into consideration we believe the stock is setting up for a nice move on earnings.
Final consideration will be made before close of trade today, if price reaction is good it will confirm our bullish belief.
AVERAGE ANALYSTS PRICE TARGET $14
AVERAGE ANALYSTS RECOMMENDATION Hold
SHORT INTEREST 31%%
Looks good from here I, getting high of this company shouldn't be a problem. It may have a small pullback tomorrow or a big A breakout! this does move fast when it want's to! Bullish all the way higher highs!
Here is what I think is happening.
AMAG is in a cup and handle pattern, with the initial handle under formation.
1. Its currently short term over sold.
2. gradual reduction in volume over the last few days since the rebound, though I would like the volume drop further.
3. price might be in the range between 24-25, if...
Price was very soft today despite the strong market.
Ascending triangle so be wary of a break to the upside. However given the lack of volume and softness of the ADX / MACD, volume and price action it may be worth considering a short, retrace back to at least $52.60