ETON Biotech Big Earning Beat Pullback LONGETON jumped on a big earnings report a week ago. This small cap biotechology
company is making big money and traders responded. It has now experienced
a standard 0.5 Fib level retracement pullback and traders early in the jump
take profit. At this level new buyers have equilibrated with those selling their
shares and taking profit. The ZL MACD lines are ready to cross bearly under the
histogram whose negative/ red amplitude is reverting toward the zero line.
The lines of the dual time frame RS indicator have held above the 50 level.
In consideration of this healthy pullback and buying /selling pressure equilibrium
I will take a long trade looking for 15-20% upside considering also the uprising
fundamentals of the stock based on the big earnings beat.
ETON trade ideas
Accumulation?So,the blue areas are selling areas. Every time the price one of those areas the price drops.
For every seller there needs to be a buyer. So then that red highlighted area is were shares are accumulated until there are no more sellers left. Price is reaching a monthly demand area. Who are the buyers? Why are they accumulating? And what do these buyers know?
Lets see how the price reacts to the monthly demand area...
ETON Penny Stock For March You can see in the chart a the price is in a strong support line , while the beauty of this stock in particular is its a penny stock for a pharmaceutical company , which its FDA date of approval was postponed from 03.17.2020 to unclear near date , FDA News it can be massive and it only depend if the drug is approved or Not ! and with ETON i see strong sign to buy for my self and hold it to date of the FDA approval ! NOTICE i do NOT recommend at any circumstance to buy this stock for long RUN !!! ONLY for short time till the Date of the FDA news realse which they already provide to us !!! 💰 💵 im speaking about 50% 100% or 200% FOX ! in literally short time only hard work and little patience
IM buying the ETON due to the low price and the support of the RSI and the strong support line and the gold super Rocket reason FDA approval date 💰 🤑