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Vedanta - Daily charts - sidewaysAs discussed in my previous charts, NSE:VEDL was looking to make a move from Downtrend to an uptrend by breaking the previous high and making higher low. We were looking for a continuation of this and wanted to see more confirmation by another higher high and higher low being created. However what we are seeing is a congestion zone (more of a rectangle channel) where price has failed to make a higher high and also found buying support at higher lows. I think still some bearishness prevails and any fresh entry in this stock must be taken seeking confirmation of trend change! Look out for this space for more details If you like what you see, please share a thumbs up and follow me for more updates. Linking my previous chart as well Cheers
NSE:VEDL
by LoveForCharts
CRTX Strong watch potential unicorn 2020Please bear with me (or bull with me in a year) as I am new to this. I am new to investing and have been following biotech IPOs recently. I am just starting to learn technical analysis so I will have to update this later when there is more data to analyze and when I learn how to do that. Also disclaimer: I have an MD background but do not have any stake in this company yet. All information contained in this post about the company is available on the company site. GAIN trial: 500 subjects, each studied for 4 months, enrolling right now. This likely will not be published until Late 2019 at the very earliest based off of my experience in medical research as an MD. My optimistic guess is by mid 2020 it will be submitted, published mid to late 2020. If there are serious drug complications this would likely push back their timeline, but if things go extremely well its not unheard of to stop the blinding and begin treating everyone with the study drug (this would be a sign to me to buy like its going out of style.) After they prepare and submit a NDA, the FDA has 60 days to review it. I think the earliest this drug hits the market if it goes through is 2021. The premise of the drug is based off of a newly demonstrated theory on the nature of Alzheimer's disease. According to the Texas Department of Health and Human services, 5.8 million Americans have Alzheimers. This represents the current American market. With an aging boomer population the incidence and prevalence will likely increase. Sciences Advances Jan 2019 "porphyromonas gingivalis in Alzheimer's brains: Evidence..." convinced me that amyloidosis is a result of bacterial colonization of the brain in older people, and Dr. Moir and Dr. Tanzi of Mass General posted similarly on AlzForum. Cor388 is the only gingipain inhibitor being developed that I could find online. So they have the only drug in development, its in phase 2/3 right now. Reuters on success rates for study drugs - basically the problem is that Phase 2 results predict phase 3 and FDA approval, and we only have phase 1 info. Its still risky, but I think the upside of having a monopoly on a new class of drug is high enough to warrant the risk. If they show this drug can improve rather than just slow the progression of Alzheimer's, they will have a drug that does something that no other Alzheimer's treatment has ever done before. -That is why this is a potential unicorn.- The effect on public AND market psychology would be astounding. That being said, after the new IPO hype wears off and we get some quarterly loss reports, price will likely drop BEFORE drug trial results come out, and if they're good (as I expect them to be) we should see either a bubble form or a rocket ship take off. Pre-phase 2/3 results represents my best window for entry for a long term investment.
CLong
by Happygains
Bank Manipulation??My thoughts on AUDJPY were short overall, but taking a look at current price action on the 1H chart also presents a short term buy.... Price today touched the .618 retrace of that bearish move, which is also the third touch of upper trend line. Immediately after the touch, price created a nice bearish engulfing candle, enticing sellers to jump in. But what happens next, is that when price touches the lower trend line (also third touch) it not only pulls back, it closes as a low test, with volume the highest it's been for over a year. Now... more volume means big money is coming into the market (i.e. banks). The fact that volume was so high and the very next candle was a bullish engulfing (after higher highs and higher lows), if price can break out of this bullish pennant formation, we could see a huge rally to the next swing high near 87.500...about 145 pips. As long as price stays consolidating within this current pennant formation, anything can happen. waiting to see which direction price breaks out before I get involved. #BigBanks
Long
by jonathanwright
2
Buffout or breakout?Keep an eye out here what happens here at this bearish inflexion point. Could be an important level. Watch for the retest to get your confirmation on direction in the short term. If it's a stop run, you'll see fading lower highs from here before rejecting the level. If it's a breakout, you'll see higher highs and candles opening above the descending channel. Could move quickly to the top of this longer term ascending channel. To close to call at this point. I'm leaning to stop run because the volume is so light. Definite short term uptrend still holding. This should be the first close back above the trendline after giving it up. Will wait for the retest result to calibrate my trade direction from here. Great spot to watch.
B
by mfkzt_2
6