BIOMARIN PHARMACEUTICAL INC

BMRN

https://www.tradingview.com/chart/qnlve0aB/ This stock have been following a trend line for a long time. I don't see why it should stop. Stock oversold, and price at SMA200. As always. Target is floating and not set. If the trade is successful, I will close once it hit's SMA200 again.

At 8yr uptrend support

Target 100+ with 1:6 Risk/Reward

As we saw by price action forming head and shoulder pattern.. as well as the price is below a strong resistance zone.. close below 91.20 should take the price to 161.80 retracement level.

Go long when price goes outside the triangle.

TRADE THE BREAK OUT ON EITHER SIDE

LONG TERM

ABC up to First target $104, Second Target $120

First target $90, second target $100

Neckline at $90 is the zone to watch

Relief rally followed by new lows target $70

case 1. break 101.71 call cut 101. exit 102.4 close gap case 2.waitiing thorw for comfirmming candle pattern.

The candles keep side way and flat due to the uncertainty whether or not FDA will approve a drug, Kyndrisa, If Kyndrisa is not approved, it will negatively impact BioMarin’s share price. However, if it is approved, Kyndrisa will result in high profits for the company. So wait and see.

Notes on chart

A march 100/115 bull risk reversal could get you in at a retest of support at 100 or participate in the upside. All it costs is the margin

Notes on chart

Looks like a Butterfly - tight PRZ