Stock Of The Day / 03.25.25 / SAVA03.25.2025 / NASDAQ:SAVA #SAVA
Fundamentals. Closing the development of a drug for the treatment of Alzheimer's after another unsuccessful trial.
Technical analysis.
Daily chart: 4-month sideways movement after a downtrend. We makr the low of the sideways movement - 2.23
Premarket: Gap Down on moderate volume.
Trading session: There is a struggle for the level of 2.23. in the premarket and after the opening of the trading session. The price gets into a narrow trading range below the level of 2.23 after 2 unsuccessful attempts to hold above the level. We are considering a short trade if the level is held.
Trading scenario: #rebound from the level of 2.23
Entry: 2.18 when exit down from the trading range below the level
Stop: 2.24, we hide it behind the level
Exit: Close part of the position near the premarket low of 2.01. Close the rest of the position at 1.87 when volumes increase and a reversal candlestick pattern appears.
Risk Rewards: 1/4
P.S. In order to understand the idea of the Stock Of The Day analysis, please read the following information .