$CYTK has been bouncing of the 13ema on the daily chart forming higher lows, watch for the flag breakout with a stop under the 13ema
Support @10.80 from where it bounced and created hammer. A bull flag under formation after the big previous breakout. A very good R/R to go long with stop loss @10.80.
Friends, Possible long from this level, using divergances as my justification, purely because I like to keep in practice with strategies, even ones like this, that I don't even use. Hidden divergence in multiple momentum indicators, giving us an opportunity to buy off a dynamic support and a nice set of candlestick signals. The lower open and buybacks today,...
Friends, Looking to go short if we open lower, the resistance level is looking nice... Yesterdays candle showed sellers continued enthusiasm to go short in this stock because the upside was completely rejected, giving us a low wave rejection candle into the resistance again, verifying its integrity. This stock has been known to be volatile. Regards Tom
More technical reasons to support my buying of CYTK stock: CYTK Monthly VIEW: - Monthly double bottom - Monthly rsi14 divergence - Near Support (black line; the middle of a big candle, which also happens to be past support) - Monthly Bull Flag forming WEEKLY VIEW: 4-Hour VIEW (offers another buying opportunity now!: This market can't be any generous. I am long!
Buyer Build-Up seems to be forming here..and a channel at fib support. I already entered....as noted. Just need to wait....and enjoy the holiday tomorrow! :)
Weekly pullback on Feb. 10, 2015 after strong breakout! Then rallied up, but rested in daily consolidation and formed a daily HAMMER after pulling back to a 38.2% fib level and horizontal support level. So, I bought it. The next rally in to the highs might be on strong volume. So, I'll wait for it for a long time and hold it. Target is at $11.
I will follow CYTK for long trade above 8.10 because of possible bounce from daily 20sma support area. Monthly chart support that possibility with next resistance around $10 area for swing trade
I will follow that daily triangle for swing long possibility with entry above 8.05. With good pace we could see run to $10 area what will increase reward and profit with that
Over $9.77 should fill gap to $10.50 so +$1 from current levels (10% move)
Watching to see how this handle plays out. Could be some upside brewing shortly