NASDAQ:AXSM
- Has been showing strong upside movements with healthy corrections for a while now
- Down about 28% from all-time-high now
- Strong support levels down from the current price ~$70
- Overall doing great as a company
- Take Profit ~$89 as it fills a gap, conservative estimate
- Higher profit can be achieved in the long term
- Stop loss slightly...
Axsome Therapeutics - NASDAQ:AXSM
▫️ Entered a position in Oct 2022 on the bounce off the 200 week SMA (averaging $50.77c per share)
▫️ That position is presently in 73% profit
▫️ I have no intention of selling at present as we have a strong underside support from the 200 week MA, the 200 day MA and high volume trading zone from $70-78.
▫️ This a longer term...
Axsome Therapeutics Inc (AXSM)
I have been in this spot trade since $50.77. We are now at $72.93. I have much higher targets as you can see from the chart.
This is a long term trade looking to hold for 12 – 24 months however feel that something is going to happen within 6 – 12 months based on the chart.
- Forming pennant on chart and RSI. Potential for...
Steadily declining volume as the stock has taken a rest post-earnings. Plenty of support just below.
Looks just about ready to launch for the next leg up.
AXSM: Axsome Therapeutics, Inc.
2022-08-19 Axsome Therapeutics Announces FDA Approval of AUVELITY™, the First and Only Oral NMDA Receptor Antagonist for the Treatment of Major Depressive Disorder in Adults
Double Bottom reversal along the dominant trendline that can be drawn
Price moves interestingly along the Fibonacci circle
I expect bulls to take charge
The MACD is curling and AXSM has a gap to fill in the $51 range. The most recent candle closed above the .61 fib level after price consolidation in the $39 range.
$38.52 seems like a reasonable support level.
Targeting: $43.34, $46.94, $51
Every trader worth their salt needs to trade in at least one crappy biotech.
I say trade, but chances are you will end up an investor... just like those guys who bought at $100.
AXSM has a very nice pipeline. The drop was due to incorrect FDA filing. Perhaps the clean up their act and release some drugs for all the kids (and elderly) to enjoy.
I'm going to post all the stocks my dowsing is giving and see how these shake out. I have this as moving back down immediately. This name needs some kinda therapy to recover from this destruction!
My reading suggests it moves down about 14-15%. We'll see.
Bad news but good technical levels, thinking an amazing bullish opp setting up. Using 30 as the key level and adding on each whole number on the way up. 35 a key level as well and 200 sitting at 37 ish
Hello traders, I see a potential short term bullish stock setup. We are in 2 nice bullish flag pattern and testing support area. If we get a nice rejection from 46-47 area and broke the minor bullish flag pattern. It's possible to push upside around 57. Our expectation is %21 return in short time while we risking just %7. Nice risk reward ratio 1-3.
Please support...
Looking for a bounce off long time support of $65
Back up to $88 within 56 days (end of March)
Short term hold.
Stop loss under $64.90 etc. according to your risk tolerance.
