ASRT - potential gap play longAssertio Holdings Inc is a pharmaceutical company. It is engaged in providing solutions to advance patient care in the areas of neurology, orphan and specialty medicines. The company markets three FDA-approved products for various neurological conditions including Gralise, tablets for the management of postherpetic neuralgia; CAMBIA, for acute treatment of migraine attacks with or without aura in adults of age or older; and Zipsor, liquid-filled capsules for relief of mild to moderate pain.
This is not a financial advice!
Rel. Vol. on 03/15/2024 at 1.62 - not really high but we might building up momentum
We need to stay in a bullish overal sentiment of the market. If we see a corretion, this play might doesn't work.
1.20 must been broken for entry
Keep an eye on 1.3 needs to get broken for a further upmove. You can take partial profits at these levels if u want to lock in gains.
SL under 1.0
TP approx. 2.18
Most info on the chart.
Trade carefully!
ASRT trade ideas
ASRT: Bullish Flag, Weekly (67%), ConfirmedFollow up on the bullish pennant I had on the daily on April 22nd.
This time, bullish flag on the weekly chart. Confirmed.
Pros:
1- Bullish Flag, confirmed on the weekly.
2- Post formed with volume
3- Descending volume during flag formation
4- PPS above 50MA and 200MA
5- RS above 0, but a bit flat
6- R/R ratio above 5
7- 50MA above 200MA
9- 50MA ascending
10- Broke out of flag week of May 8th with volume
11- Golden cross.
Cons:
1- ATR a bit flat
2- Pattern not confirmed yet.
3- 250RSI unavaible on the weekly chart. Too new.
4- 50MA descending, for now.
Target price is 10.63$. Very similar to what I had on the daily pennant chart.
Again, stay humble, have fun, make money!
MAAX!
ASRT: Bullish Pennant (76%), Not confirmedWell, the more I look, the more I see them. Bullish pennants and flags are showing their faces again, and they may be profitable if they confirm.
In this case, ASTR has bottomed in 2021 and been climbing steadily ever since.
Currently building into a bullish pennant pattern.
Why so bullish?
Pros:
1- Bullish Pennant forming
2- Post forming with volume
3- Descending volume during pennant forming
4- PPS above 50MA and 200MA
5- RS above 0, but a bit flat
6- R/R ratio above 5
7- 250RSI below 50
8- 50MA above 200MA
9- Both 50MA and 200MA ascending
Cons:
1- ATR a bit flat
2- Pattern not confirmed yet.
Target price is 10.68$ if this all goes to plan.
Again, stay humble, have fun, make money!
MAAX!
ASRT Current Setup - Part 3 - The Wedge ReturnsSo the same channels are still in play here, and we did not successfully keep the momentum above $1 to keep it in play.
There have been several re-tests against the resistance and supports along the yellow channels lately, including some odd barcoding today as it tried to break out over $1.
I have identified another wedge and kept the previously identified channels for the most part.
We're now looking to possibly bounce sideways in these channels through the end of March, barring either market events or something of substance at the conference on the 15th.
As has been the case before, we still need to break out of the $1 and $1.15 channels and hold support before we can truly consider a reversal of the trends.
ASRT MomentI've had people say that this go up and I am sure it will but in the context for short term. One month. It's going down I believe. I doubt it will even be a dollar by 3/19, should be around 45-60c at the worst or what it should be called is fair value.
Even with RSI, CCI, MA cross that maybe hit soon in the coming days, I just don't see ASRT beating the downturn market of the past two weeks and will continue until Senate passes Stimulus and with the bonds, positions unwinding.
I won't speak for ASRT long term but calls in March, bet we'll both bleed if you bought dollar calls
ASRT symmetrical trianglelong term play!
look for pop as:
- earnings on March 11 4:30 EST , so watch the after hour market March 11 and pre market for March 12
- they are presenting at Virtual Roth Conference on March 15
again, keep in mind the bearish market as of recently, plot your entries/ exits
ASRT: Bullish FlagBullish Flag
Pros:
Post forming with volume
Descending volume during flag forming
PPS above 50MA and 200MA
RS above 0, and ascending
ATR Ascending
R/R ratio above 5
Cons:
250RSI below 50
200MA flat
50MA below 200MA
Target:
PT = 1.7552$
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ASRT Current Setup
Market is really messy this week, but wanted to get a handle on where ASRT is headed. There was a wedge someone else posted a while back that it broke out of, but it is in a larger one now.
After today's drop it bounced off the bottom edge, hoping for a golden cross soon and breakout back to $1 area.
ASRT Current Setup - Part 2
Previous analysis on this ticker: Search for "ASRT Current Setup"
Today was pretty good, since last analysis it had bounced twice on the bottom of the wedge, and now with the market heating back up we had some pops at the end of the day which got it in a much more comfortable zone I think.
We still need to break up out of this wedge, but that seems a lot more likely after the end market and Post-Market performance.
On the Non-Technical side, they also dropped a PR in after-hours about a presentation on the 15th, which could be a good sign there's a real direction after the restructuring.
ASRT 3DASRT falling hard same as the whole stock market. But can open some good opportunities! Volume is coming in last weeks good sign there is something awakening! I watch the trend line closely this weeks if it hit I wil buy a big bag of ASRT! That good indicate a retest whats significant!
Keep an aye on ASRT!