FATE trade ideas
FATE - DAILY CHARTHi, today we are going to talk about Fate Therapeutics and its current landscape.
Fate Therapeutics company receives attention today as the Cancer - Drug Race heats up, in the middle a day of the announcements of a $5.2 billion total in Acquisitions by big names of the pharmaceuticals sector, such as Merck & Co. and Sanofi, that had made strategic movements on the oncology sector. Fate Therapeutics isn't different since the company has unveiled positive preliminary data about its FT596 study, that looks to develop programmed cellular immunotherapies for cancer and immune disorders, also the company receives a boost from being upgraded by Outperform.
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FATE gaining support off the 100 Weeky SMAFATE is getting oversold on the weekly chart and seems to be gaining some support as it chops on the 100 Weekly SMA. Could swing back up to the 200 Daily SMA.
FATE. Why or Why Not?FATE's an outstanding buy. It displays a relatively stable graph of constant income throughout the period. Unlike most pharmaceutical shares, FATE does not crash hard but takes a short break when confronted with unexpected and expected bearish trends With the expectation of potentially not slipping anywhere below, FATE has built up-dip resistance of about $14. FATE is now in its fall phase and is very quickly likely to achieve profits. FATE is one I'm probably going long term.
FATE could offer good opportunity...?As you can see, Fate has honored many Inverse H&S in the past... The risk is worth the reward with a good entry ! However, the weekly could be a little contradicting with a possible bear flag...
FATE Bouncing Off Of Dual Support LinesFate has hit both it's long-term trend support line AND the support line of 19.00, then bounced, as one would expect. Good time to buy. It fell too far too fast, and without any apparent justification, and is likely to go up & continue it's long-term trend. (However, on the off-chance that the bounce fails, and it falls through 19.00, it will be a good time to buy a very short-term put, as it will then likely retreat to a previous support line.)
FATE THERAPEUTICS IDEA LONGThe prices semms have been stopped from the SMA 200 daily. Long from this level with a Stop loss of 5%.
looks like lift-offThe company seems enthused about their drug trial results and it appears that the market believes them...
FATE THERAPEUTICS GOING FOR MORE UPSIDE?FATE has broken the previous resistance level that now seems acting as a support. If it breaks the previous top i'm expecting more upside. Possible target on chart.
$FATEFATE catching my eye again, looking for a double bottom on the daily timeframe once it cross 8EMA as well
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