SLDB — Key levels to watch:
Today's positive trial data pushed Solid Bioscience's stock above $7 before the offering news weighed on upside momentum. Despite this, I have my eye on a key multi-month trendline that suggests potential support around $4.48, which remains 11.17% above the offering price of $4.03.
This level aligns with prior trendline resistance on the downtrend, now potentially flipping to support. With strong initial trial results still in play, I’ll pull the trigger around $4.48 if it holds.
After more than three decades of trading, much of it focused on the biotech sector, I’ve learned that chasing these scenarios rarely ends well—patience always pays. IMHO, for those without a position, sitting on your hands and waiting for confirmation at support is likely the smarter move.
Chart tells the story—watch this level closely. Good luck to everyone. 📉📈
This level aligns with prior trendline resistance on the downtrend, now potentially flipping to support. With strong initial trial results still in play, I’ll pull the trigger around $4.48 if it holds.
After more than three decades of trading, much of it focused on the biotech sector, I’ve learned that chasing these scenarios rarely ends well—patience always pays. IMHO, for those without a position, sitting on your hands and waiting for confirmation at support is likely the smarter move.
Chart tells the story—watch this level closely. Good luck to everyone. 📉📈
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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.