NASDAQ:RLMD
Possible Scenario: SHORT
Evidence: Price Action, Money Flow, C$H on weekly and monthly chart,
TP1: 39$
TP2: 45$
Buy area: > 31$; if it breaks the buy-level line and holds it then it's a buying opportunity.
*This is my idea and could be wrong 100%.
The market got the better of RLMD as it tried to break it's ATH last week at $47. Momentum looked set for a breakout so although it got swamped by bears, it looks like we're setting up for another try. Supported on 3/1 Gann so just watching for a confirmed return of bullish momentum, the stoch is gonna be the first one to go. Also, an upgrade to buy from Wedbush...
Jefferies analyst Andrew Tsai initiated coverage of Relmada Therapeutics with a Buy rating and $75 price target.
Bullish indicators and price action.
Nice channel developed to trade.
What goes up will soon go down. The volatility has changed the price of RLMD despite little to no result in depression drugs. Overaction of little positive news and doubts about actual success. Closeout high when you can. STRONG SELL
