AUTL - Probable Accumulation With Pump Potential
AUTL is a big deal in medical innovation.
If their lead cancer product "Obe-cel" gets approved then it may pump.
On the chart this area is likely to be an accumulation unfolding.
We've has a 3 wave move up as we've seen many times in crypto already.
A 3 wave move up is corrective and so it is likely that we'll even see a Golden Window retracement $2.23 - $2.89.
But also possible is that we may see a slightly lower low ST Secondary Test.
We'll see how it develops and if more clues arrive.
The 3 wave pattern was a 1:1.618 extension GW.
This is a strong ratio and this may at least be a clue that this is an accumulation, not a continuation pattern.
And it increases the odds that it bottoms in the retracement GW rather than a Secondary Test...
But it could really be either outcome.
So this trade is buying an area with a long term view.
My first buy point is within the Golden Window $2.23 - $2.89.
And i'll consider that a second buy point below the low @ $1.60 may be possible.
I'll look for more clues as it develops 😼.
Not advice.
If their lead cancer product "Obe-cel" gets approved then it may pump.
On the chart this area is likely to be an accumulation unfolding.
We've has a 3 wave move up as we've seen many times in crypto already.
A 3 wave move up is corrective and so it is likely that we'll even see a Golden Window retracement $2.23 - $2.89.
But also possible is that we may see a slightly lower low ST Secondary Test.
We'll see how it develops and if more clues arrive.
The 3 wave pattern was a 1:1.618 extension GW.
This is a strong ratio and this may at least be a clue that this is an accumulation, not a continuation pattern.
And it increases the odds that it bottoms in the retracement GW rather than a Secondary Test...
But it could really be either outcome.
So this trade is buying an area with a long term view.
My first buy point is within the Golden Window $2.23 - $2.89.
And i'll consider that a second buy point below the low @ $1.60 may be possible.
I'll look for more clues as it develops 😼.
Not advice.
Note
Looking good for the 0.618 @$2.89 at which point I think this is a GREAT deep value buy.
The little shooting star shows selling pressure and that is a clue that the 0.618 is probable.
Might go lower into the Golden Window as described previously...
And so you could be patient and scatter a limit order down to the 0.786 @ $2.23
If you do that then there is a good chance it does go somewhat lower than the 0.618
But the 0.618 @ $2.89 is the magnetic ratio and so it is the ideal buy point.
So you might buy perhaps 60-90% right there @ $2.89 and I think it has a good chance to be an excellent long term buy-and hold.
The 1.618 time extension which if correct signals that this may get moving on up somewhere near early Spring next year 👍.
Note
Your FA guru can't read a chart💭
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I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
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.
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
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.