Happy New Year!
IRWD had decent volume today, and it formed a very strong bullish candle. Looks like an almost 52 week high on a rough market day! Will consider taking a long position tomorrow if it trades above the high of today.
IRWD Has provided this tight price range, when price moves like this 'pressure' you could say builds up, eventually leading to a breakout to the upside
Very bullish setup
Weekly Timeframe
$IRWD is a profitable biotech with triple digits earnings the last 2 quarters. Putting in a daily cup with handle setup.
Up/Down volume < 1 so not ideal but multiple pocket pivots coming in on this last advance could change that quickly in next few sessions.
Channel-Bottom, needs to hold support.
Could rise higher with last weeks’ news:
finance.yahoo.com
Overall in a good position do move to the upper end of the channel
MACD crossed and the most recent candle tested 3 fib levels to close above the .78 level.
I like that the price has closed above the descending trendline for the past week or so.
Looking for a pullback to the 13.39-13.58 to consider averaging in.
$15.24 short term target, $17ish in the medium term.
Trading Idea IRWD (19/7/2021)
Potential upward with positive momentum towards next resistance.
Disclaimer: This trading idea is strictly intended for educational purposes only so please do your own analysis before making any investment decision.
Weekly view. This thing has been in a box since IPO. Could possibly test the sma confluence but I think it sees $24 if/when it breaks the weekly trend line.
This indicator may be signaling that IRWD's price has momentum to move higher, since its current price exceeds the price logged 14 days ago. Traders may consider buying the stock or exploring call options. Tickeron A.I.dvisor backtested 83 similar cases where IRWD's Momentum Indicator exceeded 0, and 71 of them led to a successful outcome. Odds of Success: 86%....
It is in wave 4 of an EW. It is also mimicking the previous ABCDE pattern. I would play the entire ABCDE pattern on the wave down. Then look for a long at the double bottom.
Despite the rally today it looks like there is plenty of gains still to be had, but we await some furthur buy signals before entering a trade listed below-
Closing with a higher high on the RSI
MACD cross above zero line
Close above Cloud
High Buy side Volume
EARNINGS BEAT
IRWD came out with quarterly earnings of $0.08 per share, beating Consensus Estimate of a...
IRWD: Ironwood Pharmaceuticals, Inc.
2018-09-13 08:00:00
Ironwood Pharmaceuticals Announces FDA Fast Track Designation for Praliciguat for the Treatment of Heart Failure with Preserved Ejection Fraction (HFpEF)
