Final Shakeout Before Reversal?
Biotech stocks have been hammered over the last year, with many currently trading at or below book value.
A reversal is due.
Some indications of a reversal in the short term with possible test of 118-120:
1. Price broke last low but is currently forming a bullish hammer.
2. Bullish divergence on the MACD histogram.
3. ADX below 20 indicates sell off is weak.
A reversal is due.
Some indications of a reversal in the short term with possible test of 118-120:
1. Price broke last low but is currently forming a bullish hammer.
2. Bullish divergence on the MACD histogram.
3. ADX below 20 indicates sell off is weak.
Trade closed: stop reached
Seems I was a bit early :)
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