Long
ACHAOGEN - ready for a move up
ACHAOGEN is a Biopharmaceutical company, which engages in the research, development, and commercialization of antibacterial treatments for multi-drug resistant gram-negative infections.
After a spectacular uptrend from November 2016 to March 2017, the stock paused for a short time and then started a long period of correction.
In fact from May 2017 the stock is in a deep down move composed of 5 waves.
The question to answer is when will this correction end?
Technically we could see a final move towards $4 but I will take the risk to highlight $5 as a probable bottom for Achaogen and closely follow this call.
The behavior of the stock during the last days is pointing to a possible reaction.
I also like the fact that I am starting to see some positive divergences in short term momentum readings together with extremely oversold levels in several time frames.
Note: below you can read the company's latest press release
investors.achaogen.com/news-releases/news-release-details/achaogen-highlights-multiple-plazomicin-presentations-escmidasm
After a spectacular uptrend from November 2016 to March 2017, the stock paused for a short time and then started a long period of correction.
In fact from May 2017 the stock is in a deep down move composed of 5 waves.
The question to answer is when will this correction end?
Technically we could see a final move towards $4 but I will take the risk to highlight $5 as a probable bottom for Achaogen and closely follow this call.
The behavior of the stock during the last days is pointing to a possible reaction.
I also like the fact that I am starting to see some positive divergences in short term momentum readings together with extremely oversold levels in several time frames.
Note: below you can read the company's latest press release
investors.achaogen.com/news-releases/news-release-details/achaogen-highlights-multiple-plazomicin-presentations-escmidasm
Trade active
Above $5.40 ACHAOGEN is a BUY.Let's see how it reacts.
Winstox
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Winstox
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.