ARWR TECHNICAL ANALYSIS.
Updated
A few people asked me to explain how I make my analysis and here we go:
1. From the chart, I can see a very nice price range where the price is going up and down.
2. I see that on the particular stock horizontal price levels are working nicely.
3. The stock is weaker than the market overall.
4. Globally uptrend, locally downtrend
5. The price level confirmed by many touches.
6. When we approached the price level for the second time in the last 4 days, we had a chance to break the level down, but we didn't for me it says that the instrument most likely will go in the opposite direction.
7. Approached the price level with big bars.
8. The instrument has accumulated energy.
9. The instrument has closed within more than 1 ATR from the price level, which means that it increases the possibility that after the breakout of the price level, it will go in the opposite direction.
10. Point of the trend reversal. There was stopped a very strong move down.
11. Descending lows were broke.
12. Potential more than 10 to 1.
13. I'll get a position only if we break the price level down, then I put a buy order above the price level at 11.51
1. From the chart, I can see a very nice price range where the price is going up and down.
2. I see that on the particular stock horizontal price levels are working nicely.
3. The stock is weaker than the market overall.
4. Globally uptrend, locally downtrend
5. The price level confirmed by many touches.
6. When we approached the price level for the second time in the last 4 days, we had a chance to break the level down, but we didn't for me it says that the instrument most likely will go in the opposite direction.
7. Approached the price level with big bars.
8. The instrument has accumulated energy.
9. The instrument has closed within more than 1 ATR from the price level, which means that it increases the possibility that after the breakout of the price level, it will go in the opposite direction.
10. Point of the trend reversal. There was stopped a very strong move down.
11. Descending lows were broke.
12. Potential more than 10 to 1.
13. I'll get a position only if we break the price level down, then I put a buy order above the price level at 11.51
Trade closed: target reached
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