RVMD - Revolution to greater heights=======
Volume
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- neutral
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Price Action
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- Cup and Handle formed
- Supported on broken downtrend line at $42
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Technical Indicators
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- Ichimoku
>>> price above cloud
>>> Green kumo expanding slightly
>>> Tenken - Above clouds & pointing up
>>> Chiku - Above clouds & pointing up
>>> Kijun - Above clouds & pointing up
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Oscillators
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- MACD still bullish
- DMI still bullish
- StochRSI, bullish, signs of overbought
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Conclusion
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- short to long term breakout swing
- price may reverse at current level, to enter spot or wait for pullback at entry 2.
- Entry and exits depends on your time horizon and risk management.
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Positions
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Entry 1 - $54
Entry 1 - $48.50
Stop - $41
Exit 1 - $60
Exit 2 - $68
Exit 3 - $80
Exit 4 - $90
Exit 5 - $99
Market insights
RVMD - a biotech that ending consolidation?
Fundamentals: Revolution Medicines, Inc. is a clinical-stage precision oncology company focused on developing novel targeted therapies. It engages in the discovery and development of cancer treatment. Average 1 year target from analysts = 54.
Technical: To allow the stock some fluctuation the stop could be around 40.2 level. Target could be around the previous top - 55-56 area.
RVMDClassics of the genre. A young and beautiful company that has everything ready to make friends with you, that is, the Triangle pattern, which has already been formed and broken up. Now the price will move along the indicated arrows and reach the main target of the trade of 72.44 dollars (an increase of 54%). It makes no sense to put a stop here.








