In reviewing previous ideas on here I was stunned to see how many folks called this long. But I guess you can read into a chart whatever you like.
Although could be concerned about double bottom, it is very apparent that IONS is doing nothing but going down. I see this as a flag wth potential to seem 48 before it’s done (although 52.5-55 more likely). Either way...
BB starting to tighten. Still sticking within the trading range with some slight adjustments. RSI is cooling off (now 56) and will wait to see if it bounces off the SMA 20 ($55.86). MACD are converging though and about to cross over negative.
Still holding within this trading range near 52 week highs. The OBV is up suggesting a possible breakout to the top. Top of the BB is >$60 which would be a 52 week high.
First time using this. Working on expanding my skills. Looks like an bullish ascending triangle with on-balance volume rising past few days. Would expect a move up based on this daily chart. Resistance has been $58-$58.10s. It is near 52 weeks highs.
$IONS is in distribution within a range. Not it is falling across middle BB. Given recent price pattern /movement, it is very likely to continue the drop to 100 sma on daily or 20 sma on weekly (around $46.3).
The 200 sma does not seem to interfere with price actions much.
Pulled the pin IONIS and will wait for an optimal re-entry. Decision based on price testing resistance, bearish divergence and a 19% gain is pretty nice. I'll re-visit at the bottom of the channel.
Ionis Pharmaceuticals, Inc. is engaged in discovering and developing ribonucleic acid (RNA)-targeted therapeutics. The Company, using its drug discovery platform, has developed a pipeline of drugs for patients with unmet medical needs. The Company's segments include Ionis Core and Akcea Therapeutics. In the Ionis Core segment, the Company is engaged in exploiting a drug discovery platform to generate a pipeline of drugs for the Company and its partners. The Akcea Therapeutics segment includes the operations of the Company's subsidiary, Akcea Therapeutics, Inc. (Akcea Therapeutics). Akcea Therapeutics is focused on developing and commercializing volanesorsen and other clinical-stage drugs for serious cardiometabolic diseases caused by lipid disorders. The Company is developing volanesorsen to treat two severe and rare, genetically defined diseases, familial chylomicronemia (FCS) and familial partial lipodystrophy (FPL). The Company offers SPINRAZA, a Generation 2.0+ antisense drug.
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IONS
