Good News for SDGR
"Schrodinger Highlights Discovery of SGR-1505, Clinical-Stage MALT1 Inhibitor, at American Chemical Society National Meeting"
Premarket : Testing the resistance
Once it clear 27 $, 10% upside potential .
SDGR has been in an uptrend since breaking above its Base Formation neckline around $36.30, experienced several retracements of between 38.2% to 50% of each mini swings on the way up.
Its most recent retracement is more "severe", now at 61.8% retracement. And with Earnings expected just round the corner (on 2nd Aug), it appears there is some "fear" leading to...
Bullish Daily, Broke out of a falling broading wedge on the daily, price targets on the .618s over time. Additionally, there was a double bottom on the RSI, and a break and hold above the 200 moving average.
Blue solid lines are established downtrends, green dotted lines are established uptrends. Both the uptrend and downtrend lines are established from equilibrium points, (not highs and lows). Thickness of lines illustrates strength of previous price action. Circles are the crossing of uptrend and downtrend (Crossfire Points), usually resulting in reactions.
AI drug discovery stonk
Early stage
Bill Gates
Apparently a lot of big pharma already use it
Seems to me a better play than vaccine stonks RN which is crowded
Looks bearish
Basically on final support else back to ground 0 (two horizontal lines)
NOT FINANCIAL ADVICE
As a trade, it's probably safer to wait for SDGR to break through $78 and 79, but I took a half position this week.
My conjecture is that the S1 pivot will provide stronger support, than the resistance to be faced at R1.
More importantly, I believe the broader market trend (bullish, with momentum) will help advance SDGR.
Looking for low to mid 80's target price...
They have negative EPS and not acceptable growth and income (~100M$) for a 4.5B $ company, soon the earnings will arrive and my guess is that price will drop because some investors will not like the numbers.
But then the technical rational players will leave the arena and the irrational hype will start
Results can be found "improving" for some :) and then...
