Notes:
* Strong up trend
* Okay earnings track record
* Consolidating for the past ~9months
* Bouncing from its 50 day line with bullish momentum
Technicals:
Sector: Healthcare - Biotechnology
Relative Strength vs. Sector: 1.73
Relative Strength vs. SP500: 1.32
U/D Ratio: 1.97
Base Depth: 36.27%
Distance from breakout buy point: -1.16%
Volume 19.91% above its...
Similar story with $XENE - another Biotech building a strong base breakout setup.
Manage risk aggressively on these biotechs, they will move fast.
Don't hold and hope if they turn against you and wait for tight risk entry
XENE is consolidating in a triangle pattern since Feb. Has been a big volume spike recently. It is a biotech play so risky by nature but as long as we can keep on moving above the EMA's I am wanting to take a long when volume steps in or when a break occurs to the upside.
Profit target is proportional to the relative volume. My detailed trade is shown on chart.
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XENE: Xenon Pharmaceuticals Inc.
2021-10-04 07:00:00
Xenon Pharmaceuticals Announces Positive Topline Results from Phase 2b ‘X-TOLE’ Clinical Trial of XEN1101 for the Treatment of Focal Epilepsy
I found this pattern at tickeron website with the following data:
STATUS = Confirmed
CURRENT CONFIDENCE = 70%
TARGET (EXIT) PRICE = 12.07 USD
BREAKOUT (ENTRY) PRICE = 11.44 USD
DISTANCE TO TARGET PRICE = 3.89%
EMERGED ON = Sep 29, 12:00 PM (EDT)
CONFIRMED ON = Oct 02, 09:43 AM (EDT)
WITH CONFIDENCE LEVEL = 79%
The Descending Triangle pattern is formed when the...
I think Xenon hit bottom and now it has been climbing steadily for the last 4 months, every week except one has finished higher. In the last week it appears an ascending triangle has formed and the price has marched on upwards again. I try to be careful so I'll look at the 5-year info on the marketwatch site, then do a search for info on their pain-meds...
XENE seems breaking out of its downward channel formation. Twiggs money flow crossing to the positive side, and it has insider buying.
We think it has good upside potential.
* Trade Criteria *
Date First Found- December 26, 2017
Pattern/Why- downward channel breakout, fallen angel pattern.
Entry Target Criteria- Current price ($2.91), Ideally look for a...
The "zombie twitch" has proven to be in fact a potential sign of life here. Has a little pocket above recent highs to 9. Above that area and through the 10's could easily see a run to mid double digits near 14 or so. Very thin but looking good so far.
