ALT Reversal Incoming? +Trade Setup (>168% Profit Potential)
Hello Fellow Traders,
Today we are looking at Altimmune Inc (ALT) on the NASDAQ. We can see that on the last bullish wave, prices peaked at around $35. We can see since then a bullish continuation pattern, the falling wedge, has been printed. The price has broken out to the upside, retested the EMAs for support, and bounced back to consolidate just in the $11.75-$12.50 range.W Now, with prices above all EMAs, we can expect additional growth. We can use a larger buy range for this stock because the risk-to-reward is very good. If prices begin an uptrend here, it is a good time to go long. In the long run, a breakout past the ATH of $35 has a Fib target of $52! If you think this is unrealistic, take a look at my last idea on SOLO down below. However, a potential short-mid-term trade set up now could be:
Entry: $11.50-$13.75
Targets: $24.00 (+80%) | $35 (+$1.68%) | $52 (+297%).
Stop loss: daily close below $10.50 (-10%).
Let me know what you guys think down below and leave a like if you appreciate the analysis. Also, check out some of my other ideas and follow my profile for more chart analyses and profitable trade setups! Thanks for reading :)
Price at writing: $12.98
Today we are looking at Altimmune Inc (ALT) on the NASDAQ. We can see that on the last bullish wave, prices peaked at around $35. We can see since then a bullish continuation pattern, the falling wedge, has been printed. The price has broken out to the upside, retested the EMAs for support, and bounced back to consolidate just in the $11.75-$12.50 range.W Now, with prices above all EMAs, we can expect additional growth. We can use a larger buy range for this stock because the risk-to-reward is very good. If prices begin an uptrend here, it is a good time to go long. In the long run, a breakout past the ATH of $35 has a Fib target of $52! If you think this is unrealistic, take a look at my last idea on SOLO down below. However, a potential short-mid-term trade set up now could be:
Entry: $11.50-$13.75
Targets: $24.00 (+80%) | $35 (+$1.68%) | $52 (+297%).
Stop loss: daily close below $10.50 (-10%).
Let me know what you guys think down below and leave a like if you appreciate the analysis. Also, check out some of my other ideas and follow my profile for more chart analyses and profitable trade setups! Thanks for reading :)
Price at writing: $12.98
Related publications
Disclaimer
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.