Price has been accumulating for 3 months under an important resistance. It could break out at any moment, has been poking it several times. I just opened a long position, TP around the 15 level, use limit orders for TP this is a high volatile stock, For SL wait for a red daily candle to close for the same reason, price can drop but it also could bounce back up...
The 9ema is above the 20ema and the RSI is still on the cool side. This closed at the .23 fibonacci level. on Friday after a brief test.
I would like to see it break resistance at $12.98 to go for a long swing.
First target: $13.86
Second Target: $14.47
Third Target $15.61
Immatics Presents Data Update on Dose Escalation from Ongoing ACTengine® Cell Therapy Programs
·First anti-tumor activity observed in heavily pre-treated solid cancer patients during early phases of dose escalation
·Tumor shrinkage observed in 8 out of 10 patients including one partial response consistent with robust biological activity of infused T cell...
I've been trying to catch some of these SPAC waves (stocks like NKLA, SPCE, etc), and I think this one is next. It's a bio stock, so there's not much of a 'main street' story, but I love the reversal pattern. THis is a good example of 'scallops'.
THE TRADE:
See how volume is tomorrow. If it's decent, buy at around $11.10, stoploss of 9.94. PT 1 of $14.49, PT2...
