We are seeing an uptrend of this stock and it could be heading to a higher level of support around the price of $11.44. The previous support was at $10.00. Setting the risk/reward with a 5% risk, we can see a 5% drop from the entry price of $11.44 to be at $10.87, which is a month ago. The Stoch RSI is showing the stock to be quite oversold so it is less probable that the price would fall further. Furthermore, with news of their COVID-19 vaccine, there is potential for this stock to rise. In the short term, the target price is the resistance at $15.
Trade active
Got in at $11.35.Trade closed: stop reached
Stop loss hit at $12.65.
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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.