200/50 SMA confluence + triangle breakout on healthy volume
Bullish bias, buy all dips, add on re-tests.
I might not use stops here, scale-in or scale-out
Watch for key 8.40 retracement or continuation.
1. Wait for pullback, long until 38 resistance.
2. Short from dashed trendlines / with sub $31 PT
2. Be patient accumulate under $32.00, long term positioning for $40+, $50+, and $60+ (preferred.)
Long. PT: $39
RSI under 70, potential upside left.
Enter a short position at 1.4180 or higher, cover at 1.1090.
You can trade the consolidation area highlighted by the yellow triangle, from 1.26-1.38 with very tight stops, as once the consolidation is broken, 1.090 is your next stop.
Only high volume trades, min. 1k shares.
(ps. If price fails to break...
Short from 15 to 13.80-14.00 support zone.
If 13.80-14.00 support is held, take profits and long to 16.50 price target.
If 13.80-14.00 support is broken, maintain/add to your short position, cover at 12.50 price target.
Buy at ~13 if support is held.
Sell at ~16.
Do your due diligence.
Trade biotech/pharma with no fundamentals...