INVA - 14 months HEAD & SHOULDERS + 6 months RECTANGLE══════════════════════════════
Since 2014, my markets approach is to spot
trading opportunities based solely on the
development of
CLASSICAL CHART PATTERNS
🤝Let’s learn and grow together 🤝
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Hello Traders ✌
After a careful consideration I came to the conclusion that:
- it is crucial to be quick in alerting you with all the opportunities I spot and often I don't post a good pattern because I don't have the opportunity to write down a proper didactical comment;
- since my parameters to identify a Classical Pattern and its scenario are very well defined, many of my comments were and would be redundant;
- the information that I think is important is very simple and can easily be understood just by looking at charts;
For these reasons and hoping to give you a better help, I decided to write comments only when something very specific or interesting shows up, otherwise all the information is shown on the chart.
Thank you all for your support
🔎🔎🔎 ALWAYS REMEMBER
"A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist"
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⚠ DISCLAIMER ⚠
The content is The Art Of Charting's personal opinion and it is posted purely for educational purpose and therefore it must not be taken as a direct or indirect investing recommendations or advices. Any action taken upon these information is at your own risk.
INVA trade ideas
$INVA to head higher after pulling back to broken resistance?* Good earnings in the recent quarters
* Good up trend in the recent 2 years
* High 3-month RS of 34.4 in the Healthcare sector and a RS of 4.0 against the SP500
* UD Ratio of 1.57 meaning it's under accumulation
* Has been holding the earnings gap really well during this time
* Trading well above the 50 day avg volume
Trade Idea:
* You can enter now as this is its second attempt at breaking out.
* If you're looking for a better entry you can look for buying opportunities near the $18.97 area as that should continue to hold as support.
Caution:
* The red lines at $19.84 and $20.54 are from historic highs. We may see resistance around those price levels.
INVA Break OutI like the consolidation near the 3 month POC line and also the recent test and bounce off the 50MA. Additionally the 9ema crossed the 20 ema and it appears that the short to mid term trend is intact.
Also the candle closing above the .61 fib level and the upcoming MACD cross lead me to believe that this will break out.
Target: $14, $15.62
INNOVIVA INCNASDAQ:INVA
Friends, another paper for trading on Monday.
What's on the chart:
1. A strong daily level formed by the hai of the paranormal bar from March 30.
2. Distant retest of the level
3. a 12.3% no-holds-barred rally.
Scenario:
Entry into the short at the breakdown of the level of 12.86
Important: we constantly write about the need to use stop orders to limit losses. This time will not be an exception: trading is a high-risk business. Before you start trading, make sure you know the basics, understand the mechanics of the market, and at least know how to place SL-orders.
Inva BuyoutInva has activist Alex Denner in control of the board(5/5) and management which has been cut down to 2 people, includes CEO who is also Sarissa Executive. GSK has 30% ownership and probably will be likely buyer, they must have been waiting on Asthma indication approval which came earlier this month.
INNOVIVA On The BoilWell, I know very little about this stock but the operator seems to have an interest, so I do to. I lied... I do know something and that is in the next decade we are all going to need some kind of drug to survive, between 9-9 stress and shit food, we have everything we need to become pill poppers.
In any case this looks like a good investment. Another drug company.