yieahhh
We can go touch $46 and potentially go test the upper part of the channel.
Bunch of confluences for the bounce.
1. Parallel channel support
2. Wave C has same length as Wave A
2. Filled previous gap
3. Using previous high from 2023 as support
4. Weekly RSI and MACD turning around
Daily RSI is in an interesting point, will reach a resistance on the daily. I want this to go back down to have another dab at this, but if it breaks we are off to the races and will hope for a retest on the RSI break.
Be mindful this is another biopharma very volatile and many times news driven, which was already coincidentally this week!
yieahhh
We can go touch $46 and potentially go test the upper part of the channel.
Bunch of confluences for the bounce.
1. Parallel channel support
2. Wave C has same length as Wave A
2. Filled previous gap
3. Using previous high from 2023 as support
4. Weekly RSI and MACD turning around
Daily RSI is in an interesting point, will reach a resistance on the daily. I want this to go back down to have another dab at this, but if it breaks we are off to the races and will hope for a retest on the RSI break.
Be mindful this is another biopharma very volatile and many times news driven, which was already coincidentally this week!
yieahhh
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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.