AGN - downward channel since 2015This big Pharma has been on the decline since 2015. I see it is in the top of the channel currently. Good opportunity to short to the bottom of the channel, especially with the general market declining.
Allergan
Allergan (AGN) LongAllergan stock has been volatile since the merger with Pfizer was abandoned due to Tax Inversion laws back in April 2016. After a April-August Pattern was successful in predicting a downtrend, there has been an emergence of a bullish pattern. Looking purely at technical's I see the stock hitting the 0.236 fib retracement before the earnings call scheduled for 2nd November. I would then look for a rebound up towards the trend line to the 0.382 fib retracement; and if that is broken then I would look for it to test the July highs at fib 0.618. When you take into account the fundamentals, and the companies trend of positive earnings surprises I believe this stock shows potential.
Time to go long on PIRS, very long.The has been absolutely no fundamental change to this bio company that has multiple big pharma partners. Yet due to the overall biotech downturn NASDAQ:PIRS was hit pretty hard. This presents a true 10 bagger opportunity , and Im not even remotely stretching the truth. The technicals show you why right now is the PERFECT time to buy. A little due diligence will show you why its a must hold in 2016.
As you will find here --> there is plenty in the pipeline, both propietary and partnered. And when your partners are this strong, its hard to fail.
