Bear Trend Reversal - ACRX
ACRX - Long
Seems a bit range bound and put in a nice bottom on the long trend line. Blew by the 8EMA and 20SMA and closed over the 50SMA after a blip below 30RSI at the lower part of the range. Big risk trade given the low price and rangy price action. SL set at 1.5xATR which is just below the long-term bottom of the range.
ACRX - 500 Shares
Entry - $2.71
SL - $2.17
TP - $3.81
Net Risk - $270
(Note: as of this post looks like we're well up in pre-market)
Seems a bit range bound and put in a nice bottom on the long trend line. Blew by the 8EMA and 20SMA and closed over the 50SMA after a blip below 30RSI at the lower part of the range. Big risk trade given the low price and rangy price action. SL set at 1.5xATR which is just below the long-term bottom of the range.
ACRX - 500 Shares
Entry - $2.71
SL - $2.17
TP - $3.81
Net Risk - $270
(Note: as of this post looks like we're well up in pre-market)
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