Futura Medical (FUM) - Long Trade
Updated
Futura Medical plc is a United Kingdom-based pharmaceutical company that develops products for consumer healthcare. The Company is engaged in the research and development of pharmaceutical drugs and medical devices and the commercial exploitation.
Looking for entry around the 50% retrace of last move up. With support from the 200ma around same level. Still not quite as oversold as I would like to see.
2:1 Trade.
8% or so RISK. Stop just below 61.8% FIB. Vs 20% REWARD.. Back to recent highs.
Fundamental and news flow aside. Activity in IMM last week may also potentially bring FUM back into focus?
Looking for entry around the 50% retrace of last move up. With support from the 200ma around same level. Still not quite as oversold as I would like to see.
2:1 Trade.
8% or so RISK. Stop just below 61.8% FIB. Vs 20% REWARD.. Back to recent highs.
Fundamental and news flow aside. Activity in IMM last week may also potentially bring FUM back into focus?
Order cancelled
As suspected, price (re) action to the RNS dragged the price down considerably on open. Therefore the original idea is no longer a viable setup and FUM has now been moved back to the watchlist. Original trade idea cancelled.
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.