AVIR - Long Setup Appears to have heavy options exercise in November but no selling yet. Break 24.53. Stop signal 21.43.First Target 29.77, 2nd Target Momentum.
AVIR
US Stock In Play: $AVIR (Atea Pharmaceuticals Inc)$AVIR continue its surge it share price, with a overall cumulative gain of +38.31% since it was last highlighted this month. The continuation of all time high breakout have successfully negated two series of Bearish Shooting Star reversal candlestick pattern that was printed on 14th and 15th January 2021 respectively. This rally have successfully place $AVIR at a market capitalization of $4.5 billion, from the company’s enterprise value at IPO of $1.7 billion on last October 2020.
With daily volume of $AVIR remaining insignificant over the past 4 weeks of market session, price volatility have further up-ticked to $3.60/day range with 6 more weeks to its Q4 earnings.
US Stock In Play: $AVIR (Atea Pharmaceuticals Inc)$AVIR capped off the week’s market session with a considerable gain of +15.03%. This morning’s continuation all time high breakout have successfully negated the Bearish Shooting Star reversal candlestick pattern that was printed on 4th January 2021. The week’s rally also sums up an impressive cumulative gain of +77.36% since its IPO on 30th October 2020, just 10 weeks ago.
With daily volume of $AVIR remaining insignificant over the past 2 weeks of market session, along with ATR-14D currently at $3, it is plausible to see $AVIR trading beyond $53 in the upcoming week, to cross a $4 Billion USD market capitalization.
AVIR Slightly bullishIt looks like a pattern of slight trend reversal has ended this last week, with MACD not yet beginning to converge for another downward cross. Movement within Bollinger Bands last week also looked good for bulls going into the week of 6/19. You could definitely see AVIR above .60 if it gets more than a dead cat bounce off of the .51
AVIR POTENTIAL HARMONIC PATTERNAVIR seems making a double bottom after the previous gap up. I'm looking for a potential harmonic pattern or a second test on the neckline level. A lower low invalidates this setup.
