MACD and TTM Squeeze tend to be reversing, and selling pressure seems to slow. I expect price to bounce off of the critical support level around 8.47. A price below 8.47 justifies a premium valuation of the underlying.
Short-term price action appears to be slightly bearish, but the conditions are right for a reversal. Biotechnology stocks tend to be highly volatile, make sure to manage your risk correctly before making a trade. My R:R ratio is around 5:1 with a SL at 8.08.
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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.