ARRY Weekly - 1/30/19Butting up against the middle of the upward channel and top of BB. RSI >60 and getting hot, OBV flat to up.
ARRY trade ideas
ARRAY 1-15-19 MonthlyAppears to be in an uptrend trading range on the monthly chart. Sitting right on the SMA20 which has been support as of late. MACD is converging again. The volume mid-way through the month sits at about half the average monthly volume. Recent news of the BEACON CRC Trial and upcoming catalysts may provide the push needed to jump into the upper half of the channel.
ARRAY 1-15-19 MonthlyAppears to be in an uptrend trading range on the monthly chart. Sitting right on the SMA20 Monthly line which has provided support in the past. MACD are converging again. The last time there were three red candles in a row was March to May 2017. Recent development news could spark a jump up to the upper portion of the channel. The monthly volume sits at roughly half of the average monthly volume midway through January.
Cup and handle breakout followed by a pullback to support.Array is reaching an area with lots of support. With earnings coming out May 9 pre-market it could be what it needs to bounce off this support and go through my resistance line. Until that is confirmed I'll be on the sidelines.
ARRY is my pick of the dayForming a nice flag, but has not confirmed yet. Waiting for a cross above 13.74. I love flags. They are excellent trend confirmation and easy to identify.
Also, you can scroll up and down the chart time frames. They all look pretty good; from the 15 minute to the 1 month.
I will add to my watch list. You should too.
Correction for ARRYPotential head and shoulders pattern. May see correction to 62% retrace level before resuming bull trend. Good luck!
ARRY ready to breakoutARRY has been in a tight consolidation since a huge 50% run up. It is now finding support on its 10 day moving average which has historically been a prerequisite to a breakout
Entry:12.29
Stop Loss: 11.84
Profit Target: 13.50-14.00
ARRY
LONG $ARRY ARRY has been going down for too long since they they withdrawn their FDA application for its skin cancer drug binimetinib after poor P3 results.
Stock seems oversold atm. Yesterday's results were quite positive. May have a short squeeze.
possible reversalif breaks 8.56 you can take a position.
stoploss if you want to use is 8
breakout to $10 short term...
oversold rsi is bought
5 day ma crossing 10 day will confirm the breakout..
ARRY - Long - Swing+ Broke out earlier this week on very high volume
+ Prices retraced back towards the rising 5ema
+ Broke-out again with but on very low volume
- upper shadow on Friday's bar
- the range of sideway move over the past few days were a bit too wide, subject to volatility (& chopped) even if successful break-out formed
- Target was beyond 2 yr high
TRADE IDEA: ARRY COVERED CALLMetrics:
Buy 100 Shares at 3.23
Sell Oct 21st 4 call
2.83 db at the mid (i.e., 2.83 is your cost basis in the shares)
Max Profit: $117 (if called away at 4)
ROC: 41% ROC
Notes: A good spot to initiate this here, given a bit of horizontal support.
$ARRY Will The Short Squeeze Continue on Array Biopharma?With Array Biopharma earnings this week, the chance of another short squeeze increases, but so does your risk. Golden Cross on Daily, positive divergence on MACD, riding the upper Bollinger Band as of 8/2. My $ARRY upside target is $5.47 NASDAQ:ARRY
