Shire
SHIRE PLC is Up, Up And Away!Shire PLC (NASDAQ: SHPG) is at a Critical Make-Or-Break Zone around 149 . If it continues to move above this zone, the Buyers may gain easy control over the sellers to shoot up the price to the upside as per TTC Breakout Formation .
For Short-term targets, Trader should eye on 152.50 Zone . Then 156.60 is the next resistance. For Swing Traders, 162.60 zone is Very Critical. Above which we can see a good amount of buying.
Shire PLC is a Jersey-registered, Irish-headquartered global speciality biopharmaceutical company. Originating in the United Kingdom with an operational base in the United States, its brands and products include Vyvanse, Lialda, and Adderall XR.
Shire PLC is setting up for a sell-offLower tops formation amid bearish 100-DMA and 200-DMA crossover, coupled with the bearish RSI suggests the share prices is likely to test and breach support at 4535 (previous descending trend line, in which case the major support at 4300 could be put to test.
Long Shire to the upper trend line at ~£50SHP looks like a buy between~£41.75-45.00.
A close below the trend line would make me pretty nervous and I'd probably exit the trade. In the current environment I suspect that with indices at all time highs it would be a macro factor that would trip people out of the trade than a company specific factor.
SHP Shire Possible Gartley SellSHP Shire Possible Gartley Sell
A-B 0.786 retracement of the X-A leg
B-C 0.618 retracement of the A-B leg
C-D Anticipated 1.27 extension of the A-B leg, (and 1:1 measured up-trend move of A-B). Completing around 5426
Entry
5390 - watch and manage, may need to be adjusted to accommodate recent highs of 5330's
Targets
T1 5005 - 0.385 retracement of the A-D move
T2 4820 - 0.618 retracement of the A-D move
Stop
130 (around 5520)
Considerations
Spread can vary on this stock, so adjust entry/exit orders accordingly.
