ALNY started its uptrend as a beautiful fallen angel pattern, and now seems breaking out of a downward consolidation channel. Moneyflow was strong & agin gaining its strength.We like this as long & we think it has huge upside potential.
* Trade Criteria *
Date First Found- August 22, 2017
Pattern/Why- Downward channel breakout long
Entry Target Criteria-...
ALNY just broken out key resistance label. It been following technical pattern from quite a while & seems ready for another technical run. It has significant insider buying. We think it has good upside potential
* Trade Criteria *
Date First Found- June 21, 2017
Pattern/Why- Flag formation; Key resistance breakout
Entry Target Criteria- Break of $85.13 or...
ALNY showing signs of an elliot retraction. This is further confirmed by the choppy peak and the fact we're trading well above the "trend line"
Position: SHORT
Price target: 47.72 (.382 with some cushion)
Stop: 52.80
Logic: Elliot retracement, fibonacci retracement, trading above its trend line
I hesitate to take on the almighty biotechs, they have great products coming, but prices may be ahead of themselves.
At the top of this once in a generation bull run the biotechs are the most exhuberant sector. They will be the last to fall. Some of them will succeed but many will fail. ALNY has had a good run but with earnings of minus, yes minus - $371 million...
