I hesitate to take on the almighty biotechs, they have great products coming, but prices may be ahead of themselves.
At the top of this once in a generation bull run the biotechs are the most exhuberant sector. They will be the last to fall. Some of them will succeed but many will fail. ALNY has had a good run but with earnings of minus, yes minus - $371 million they announced a new (additional, not initial) public offering to raise an additional 450 million $. This puts allot of pressure on the stock price as seen in the action in todays chart. Just something to watch for a potential short op. Let's see if in bounces or not. I would imagine it bounces some, if it rolls over then drops thru the bottom of that candle it will get interesting. Whatever it does there will be some trading opportunity...if theres enough vol.
Runaway Gap Down, Moved below price channel and trendline, Dropped below Ich Cloud, Strong Vol decliner, Fell below lower BB, Declining chalkin flow, CCI sell signals,...etc.etc etc If that dosen't come up on peoples radar I don't know what will. Do your due dillgence, there may be an opportunity here. Oh yeah insiders have pulled plenty out of this one. On their behalf they have skills and have formed many alliances with established bio/pharma firms.
At the top of this once in a generation bull run the biotechs are the most exhuberant sector. They will be the last to fall. Some of them will succeed but many will fail. ALNY has had a good run but with earnings of minus, yes minus - $371 million they announced a new (additional, not initial) public offering to raise an additional 450 million $. This puts allot of pressure on the stock price as seen in the action in todays chart. Just something to watch for a potential short op. Let's see if in bounces or not. I would imagine it bounces some, if it rolls over then drops thru the bottom of that candle it will get interesting. Whatever it does there will be some trading opportunity...if theres enough vol.
Runaway Gap Down, Moved below price channel and trendline, Dropped below Ich Cloud, Strong Vol decliner, Fell below lower BB, Declining chalkin flow, CCI sell signals,...etc.etc etc If that dosen't come up on peoples radar I don't know what will. Do your due dillgence, there may be an opportunity here. Oh yeah insiders have pulled plenty out of this one. On their behalf they have skills and have formed many alliances with established bio/pharma firms.
Note
after call...looking for slight rise then short op it was there ..96 to 88 ish...but ultimately bios not ready to fall till Hillary spoke up. ALNY alliances in the industry paid off...insiders are actually really smart in this one..
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.