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ABBVIE broke below the 1D MA50. Confirmed sell opportunity.AbbVie Inc. (ABBV) has been trading within a Channel Up pattern since the November 09 2023 Low. Having made a Higher High on September 04 and been rejected at the top of the Channel Up, the price broke and closed aggressively below its 1D MA50 (blue trend-line) three days ago. That is a confirmed technical sell signal. The 1D RSI has been on Lower Highs before the actual High, very similar to the previous top on March 12 2024. That sequence, after breaking below its 1D MA50, extended aggressively towards the 1D MA200 (orange trend-line) and bottomed on the 0.618 Fibonacci retracement level. As a result, we can take a low risk sell now and target a potential contact with the 1D MA200 at $180.00. As far as buying the dip for the long-term is concerned, the most consistent buy signal has been the 1D RSI Bullish Divergence when it forms the first Higher Lows sequence after breaking below the 30.00 oversold barrier. So far that has worked 3 times almost perfectly, with the only exception the May 29 2024 bottom, which still was formed not that far away from the April 26 buy signal. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYSE:ABBVShort
by TradingShot
2
JOHNSON & JOHNSON Time to start buying.Johnson & Johnson (JNJ) quickly hit the $147.00 Target that we set on our very recent sell call (April 03, see chart below) and is now approaching the bottom of the massive 2-year Channel Down: Even though based on the very reliable and consistent Sine Waves, the bottom might be a process that can take up to 2-months, the stock is low enough for medium-term investors to start considering adding buys. On top of that, the 1D RSI is highly oversold below 20.00, the lowest it has been in more than 4 years (since February 28 2020)! As a result and since the Bearish Legs of this Channel Down have ranged within -14.78% and -17.58%, we are turning bullish on this stock, targeting $157.50 (minimum +13.00% rise as with January 22 2024 High). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYSE:JNJLong
by TradingShot
A Stock on the Brink of Breakthrough?Introduction: In the ever-evolving landscape of biopharmaceuticals, Connect Biopharma Holdings Limited (NASDAQ: CNTB) emerges as a beacon of potential, navigating through the complexities of drug development with promising advancements and strategic maneuvers. This analysis dives into the core of CNTB's recent activities, financial health, and future prospects, shedding light on why this stock might just be the next big thing in the biotech sphere. A Strategic Pivot: Key Developments and Milestones Connect Biopharma, with its focus on developing novel therapies for autoimmune diseases and inflammation, has recently made headlines with significant strategic developments. The company's lead product candidate, rademikibart, is currently under pivotal trials for atopic dermatitis (AD) in China, with an NDA submission expected by Q1’24 and potential approval as early as 2025. Moreover, their global Phase 2 trial for rademikibart in asthma is on track, with last patient visits expected in October 2023 and topline readouts anticipated in Q4’23​​. Financial Health: A Closer Look at the Numbers The financial results for the first half of 2023 reveal a company steadfast in its research and development endeavors, albeit with a keen eye on sustainability. With cash, cash equivalents, and short-term investments of USD 131.6 million as of June 30, 2023, Connect Biopharma appears well-capitalized to support its operations into at least 2026​​. Notably, a decrease in R&D expenses and administrative costs compared to the previous year underscores a strategic allocation of resources towards its most promising projects​​. Market Position and Technical Outlook As of recent trading sessions, CNTB stock demonstrated a notable uptick, trading at $1.30 with a 7.44% increase​​. This movement, coupled with a consensus rating of "Buy" from analysts and a projected upside of over 500%, positions CNTB as a stock with significant growth potential​​. The company's stock price range over the past 52 weeks — from $0.5350 to $2.8400 — further highlights its volatility and the opportunity for substantial gains​​. Conclusion: A Future Ripe with Opportunity Connect Biopharma stands at the forefront of breakthrough treatments for autoimmune diseases, backed by a solid financial foundation and strategic clinical advancements. With key milestones on the horizon and a favorable market outlook, CNTB represents a compelling opportunity for investors keen on the biopharmaceutical sector. As the company progresses towards its pivotal trial outcomes and regulatory submissions, the potential for significant value creation looms large, making CNTB a stock to watch closely in the coming months. --------------- NOT TRADING ADVICE. ALWAYS DO YOUR OWN RESEARCH.
NASDAQ:CNTBLong
by olimchik
Hologic: Holding Above 200-week SMA Inside of a Cup with HandleHologic is currently Consolidating within the potential handle of a Bullish Cup with Handle pattern and is holding above the 200-week Simple Moving Average. If this pattern plays out successfully, the measured move target would take HOLX up to around $118. n addition to the technical pattern, HOLX seems to be improving its balance sheet on an annual basis, consistently increasing Assets while decreasing Liabilities and Debts. Overall, this stock seems like a stronger stock within the health sector.
NASDAQ:HOLXLong
by RizeSenpai
TDOC - Update after a Bullish WeekIve been eyeing TDOC for some time, finally posting a chart on it talking about TA developments that may indicate a potential bottom area earlier this week (Check below for the link to that chart). I was also in the camp of TDOC going lower to the low $20 or high Teens ($18-19). This weeks move of 30%, closing the weekly candle at 20% gains was a wonderful surprise. Its important to NOTE, however that the move is NOT SET IN STONE yet -> For WEEKLY Timeframe We are hitting a MAJOR confluence of RESISTANCES. Though we are ever so peaking our head out atm, next 1-2 weeks will show more evidence with confirmation. FOr example: Next week CLOSE being a bullish single candle or next couple weeks printing a bullish candlestick pattern sequence. The other side is that It could very well be a fake out/ SELL OFF and we do come back down to make a final lower low before we really become bullish. But in my opinion, the probability of a fake out maybe less. We've moved above the 21 week EMA as well, we would need to confirm support above it in the coming weeks but being above 21 EMA indicates bullish activity. NOTICE the Bollinger bands. Notice how it has narrowed, this could indicate volitility to pick up and we need to see price stay above median line and be near the upper band. We must Observe what happens in the coming weeks. The Bollinger median line and 21 EMA are converging and can act as strong support zone. If we do come back down in price. On the DAILY timeframe, we acted as SUPPORT on both the PURPLE major RESISTANCE line from all time highs and RESISTANCE line from July 2022. Just note however i would need more confirmation in the coming days by staying above as support, to be confident we stay at these levels. If we do, next weeks candle stays above and no fakeout occurs. RSI is breaking out of the Horizontal resistance line that kept RSI range bound since OCT 2021. (indicated by black line) This tells me, the BULLISH DIVERGENCE is at play. We would want RSI to continue UP, or follow the Green arrowed path drawn. We absolutely do NOT want the Red arrow. Which is a possibility but less probable in my opinion. STOCH RSI, a momentum indicator shows that we have a bullish momentum cross, showing that there is still gas left in the tank for us to move. Expect it to go above the 80 level. Conclusion + trade setups: For stocks that are 80+% off there tops, averaging in always is a nice strategy. I think under $30 is cheap for TDOC, especially with all these TA challenges being slowly conquered. There is no denying that it is highly probable we go up eventually, as we've reached critical historical support, and have been consolidating around here for awhile. Alot of indicators and other signs are leaning towards a bottom being formed or already formed. *CHECK OUT A more detailed TDOC chart from earlier this week BELOW* A swing trade idea could be taking positions using the Daily timeframe, putting stop loss below the PURPLE line. Making sure you manage your risk properly. I would rely more on the WEEKLY timeframe and a confirmation that we've made it above the resistance, plus weekly candles are more macro and powerful. This would also be for holding/ longer term investing. THANK YOU! Hope this update helped. If you like the content, please boost and follow. Please do comment with your opinions! Would love a discussion. DISCLAIMER: I am not a Financial advisor. This is NOT financial advise. This is my opinion and for educational purposes.
NYSE:TDOC
by SafofAllTrades
TDOC - Teladoc bottom fishingHello. This chart is strictly a Technical Analysis of Teladoc (TDOC). I think currently we are in a point in TDOC's price action where we've reached a fundamental SUPPORT area if you look back to 2016. This could potentially be opportune BUY ZONE. TA is all about probability. The probability we go down is always there, just in this scenario i believe the probability of downside is less compared to the upside. Though i want some short term downside for TDOC, as i believe that would be the necessary catalyst to help shift trend to upside. Price will eventually rally up, especially if we are in a bull market currently. Which i believe we are in. Ill go into details on why i want it and believe this. NOTE: This is on the WEEKLY timeframe, so we are looking into a more macro scenario than if we were to look at DAILY timeframe. LAST WEEk -> We printed a candle that has a large upper wick, indicating SELLING pressure. We are also resting right on top of a major support level at around $23, indicated by green horizontal like. It wouldnt be bad for price to drop below and touch the lower 2 green lines, the sloping one and horizontal one. This would be a catalyst due to price action then, starting to confirm what is known as a BULLISH DIVERGENCE. Which is a pattern or concept where PRICE ACTION forms LOWER LOWS, as INDICATORS create HIGHER LOWERS -> Seen by the white sloping line drawn in the RSI and MACD. And the green sloping line in PRICE ACTION indicates the lower lows. *Many trades ive recently taken have followed similar patterns, ill link 1 chart to compare this to BELOW* Its for stock LMND. Heres also a SNAP SHOT. NOTICE the horizontal white line on RSI -> this is what helps me guage at when this move and UPSIDE can start or hit. If RSI breaks out above this line, we can start to see BULLISH DIVERGENCE playout. Easily i can see TDOC hitting around the $40.00 level. Going back to CURRENT price action. I believe we go down and test the lower green lines, because of all this RESISTANCE that we are facing. NOTICE: #PURPLE SLOPING RESISTANCE LINE -> This is MAJOR MAJOR resistance, created since Feb 2021. We just tested it for the 3rd time, last week. (Note: atleast 3 touches are required to weaken lines, more price touches lines -> the weaker they get.) # We also got some short term WHITE SLOPING RESISTANCE LINES. Helping to push price down # We also got the 21 EMA (YELLOW Moving average) ******Note, all these are meeting together to act as RESISTANCE. When theres so many converging, like this -> It gets a little hard or takes time to break through to upside. ***ALso i think the PURPLE line is MOST IMPORTANT. This would help reverse trend in a major macro way. SO KEEP OBSERVING. Lastly, note the ADX & DI -> This is a momentum indicator. When RED line is over Green line, it indicates BEARISH Price action, as you can see by the downtrend. Currently there is some green overlapping occuring. We have to keep observing to see how this progresses. But ideally, we'd like to see Green shoot up to above 20 level, just like the red line did in white box. CONCLUSION: I believe in the short term, we could have some downside price action coming. But sometimes, downside action could have positive ramifications. In this case, further strengthening the BULLISH DIVERGENCE forming in the charts. Indicators and current support area, indicate seller exhausting. Probabilities in my opinion point to price moving up than down. Hitting either one of the lower green support lines, could be areas where positions can be taken with stop losses set below. DISCLAIMER: This is by NO MEANS, Financial advice. I am not a financial advisor, im just a TA nerd and post these for educational purpose. Always follow your own due diligence when trading/investing. Always focus most of your energy on risk management strategies. If you like this content, please do BOOST, FOLLOW and do COMMENT, i would like others opinions on what your seeing, whether TA or FA. Thank you.
NYSE:TDOC
by SafofAllTrades
Veeva SystemsThis is a daily chart of Veeva Systems (VEEV), a healthcare technology company that provides cloud solutions for the global life sciences industry. When the company reported its earnings on August 31st the stock price subsequently gapped down, as shown in the chart above. From a probability standpoint, this gap is likely to be filled for the reasons below. 1. The gap is a monthly candle gap and these usually close. Unfilled gaps on the monthly charts are generally quite rare, especially for assets that have never left a monthly gap before. As shown in the chart below, VEEV has never left a gap on its monthly chart before. 2. The gap is below the lower regression channel line. A regression channel is used to measure how far above or below an asset is trading from its mean. Since price generally tends to mean revert, it's highly unlikely that a gap below the lower channel line, (which in this case represents two standard deviations below the mean), will never be filled. It's more likely that the gap will not only be filled, but will be filled quite rapidly. The assumption I make in using this regression channel is that it is statistically valid and data are normally distributed. If true, then there's only a small probability that VEEV's monthly candle will close the month so far below the lower line of the regression channel. Therefore, it's likely that price will be drawn back up to the mean, and thus the gap will be filled. Here's a close up view: 3. Price gapped below an important Fibonacci level that has been holding, and likely will continue to hold, as support. See the chart below. Here are some close up views: At a minimum, price will very likely push back into the 180s. The quarterly chart shows long lower wicks at this Fibonacci level, indicating that it is holding as support. With further momentum to the downside waning as shown by the Stochastic RSI, there's little reason to believe this Fibonacci level will fail this time. The lower wicks on the quarterly candles are also bouncing off of the exponential moving average (EMA) ribbon, which usually acts as support when price descends to it from above. Strategy With this said, I noticed that someone is already sweeping the call options. They swept hundreds of out-of-the-money (OTM) call options expiring on 9/16 with a $180 strike. Clearly, this buyer believes that VEEV's price is poised to quickly return at least to the Fibonacci support level of $180.97. If you don't know what an options sweep is, it simply refers to an instance in which options are purchased right at the ask price. In most cases, buyers place a limit buy at the mid point of the bid-ask spread or at a lower target price. Market participants usually only buy at the ask price if they're in a rush to buy and/or if they have a high confidence about a certain market move and want to guarantee their entry while also not tipping the market off about their anticipated market move. Sweeps can also refer to when a large buyer wants to obfuscate their entry by splitting their large order into a lot of smaller parts to sweep the entire order book without tipping off the market as they would have if they placed a single large limit order. Understanding sweeps can help you understand what smart money is doing. It's very rare that retail traders sweep the order book because it's very expensive, and for a smaller portfolio (less than a million) it can be extremely risky. Therefore, smart money is usually the market participant who sweeps the order book. Personally, I find this call sweep to be risky (assuming that it's not part of some kind of a hedge) since although we have a high confidence that the gap may close, we don't know within what time frame it will do so. Rather than sweeping a call option with a strike price of $180 that expires on 9/16 a safer though less lucrative trade would be to sell a cash-secured put with a strike price of $180 and which expires on 9/16. Doing this gives you much higher odds of winning but is profit limited. If the price goes to $180 or higher at expiration, you win the full premium since the put you sold will not be exercised. If the price is below $180 but above the breakeven price at expiration, or if the price is below even your breakeven price, then you may be forced to buy shares of VEEV at $180, but you can simply hold those shares until the gap closes (or longer if you think price is going higher). Therefore in this case you still do not lose money, and still make the premium as profit. The only plausible scenario whereby you would lose money would be if VEEV's price continued to plummet and never recovers. Although this would be incredibly unlikely, it is still possible. You can nonetheless still hedge against even this risk by using a put spread to limit loss potential to a ratio that meets your risk management strategy. Therefore you can safely take a very high probability trade while managing risks well. Successful trading is mostly determined by how well you manage risks. Finally, since options are leveraged, one should always try to time their entry as perfectly as possible by using shorter timeframe (hourly or 4-hour) charts, especially if the option's expiration is close. For example, you can see that the 4 hour chart for VEEV is showing momentum building back to the upside. This is what you want to see if you're going to sell a put option strategy that expires on 9/16. These are just my thoughts and they are definitely not meant to be trading advice. As always, anything can happen. September can often be a volatile month and is prone to declines. Options trading is risky and can result in complete loss. Trade at your own risk. If you would like me to post more strategies like this on here leave a boost or a comment below so I can gauge interest. Thank you. If you're new to trading and don't understand the options trading language that I used above, I would recommend Project Finance to learn about options. I learned a ton about options trading from this channel and the content is always high-quality: www.youtube.com If you want to learn more about the basics of trading, you can see my post linked below for 10 rules for successful trading.
NYSE:VEEV
by SpyMasterTrades
22
Speculative Grade LongI rarely dabble in health service companies. But, after doing some reading I see a lot of merit in their mission, and this company could easily be worth 10X its current market capitalization if utilized by the Health service industry or acquired by an insurers to cut liability costs. Little can be distilled from available chart data, and comprehending the fundamentals for this sector are beyond my expertise. I am looking at this company as a speculative grade holding to diversify the portfolio a bit into the health service sector. seekingalpha.com seraprognostics.com www.360dx.com *TA interpretation + personal opinion = not investment advice
NASDAQ:SERALong
by kingmidasLXIX
Day Traders Lighting Up Reddit Spur Rally in ZomedicaDay Traders Lighting Up Reddit Spur Rally in Tiny Health Stock Zomedica Such outsized moves in small-caps are becoming par for the course these days. Surging at the open on the back of mentions in Reddit forums was Zomedica Corp., a company that develops medicines for pets. The stock jumped as much as 98% on Monday and is up almost four-fold from the start or the year. The penny stock garnered a mention in several Reddit forums over the past few days finance.yahoo.com
AMEX:ZOM
by AlenCiken
2