Long
$DRNA has $FLGT potential
Top: DDRNA weekly candle chart upon today's close (1/20/21), with anchored VWAPs (aVWAPs) on each top/bottom within the triangle consolidation, as the aVWAPs have tightened, the stock has begun to respect their price range as support.
Bottom:
FLGT daily chart as of 12/3/20, at that point in time FLGT also began to respect the price level of the tightening aVWAP bands while consolidating in the triangle. FLGT continued to trade in the consolidation, consistently respecting the aVWAP bands until it broke out and gained +60%.
The big difference is FLGT consolidated for about 90 trading days, while DRNA has been consolidating for over 270.
Conclusion
I am looking for DRNA to continue to respect the aVWAP bands and buy the stock on the next pullback and reversal from the aVWAP bands, confirming their support.
Bottom:
FLGT daily chart as of 12/3/20, at that point in time FLGT also began to respect the price level of the tightening aVWAP bands while consolidating in the triangle. FLGT continued to trade in the consolidation, consistently respecting the aVWAP bands until it broke out and gained +60%.The big difference is FLGT consolidated for about 90 trading days, while DRNA has been consolidating for over 270.
Conclusion
I am looking for DRNA to continue to respect the aVWAP bands and buy the stock on the next pullback and reversal from the aVWAP bands, confirming their support.
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