Wedge pattern in BTCThis analysis is for educational purposes only and is not a recommendation to buy or sell
Biotech
🟩 $RXDX - pilot here- I like the powerful move it is sustaining
- Volume signature is looking great
- Strong industry group
$LABP First Supply Test and VolumeCrazy volume on this one relative to it's history and .58 supply test and rejection but stock is still hovering above .4 resistance which is promising for longs.
I'm in at .3 and holding for .7 Target, to trim some along the way.
ENVB | So Many Bullish Divergences | LONGEnveric Biosciences, Inc., a pharmaceutical company, engages in developing various cannabinoid medicines for cancer care. Its products pipeline includes EV104 for the treatment of osteoarthritis; EVM-101 and EVM-201 for the treatment of cancer related distress; EVM-301 for the treatment of mental health indication; EV102, a cannabinoid cream for topical skin application; and EV101, a cannabinoid and chemotherapy combination therapy. Enveric Biosciences, Inc. is headquartered in Naples, Florida.
$HTGMHolding 23.6 fib level, looking for a potential retest of 38.6 fib level at 1.46 and find support and confirm trend reversal back towards HOD.
Biotechs are on fire! Gossamer and upcoming event! Biotechnology is the favorite sector of one of our analysts, most of his portfolio consists of biotechs, and he himself claims that it is the cryptocurrency of the common stock market.
Why? Let's explain :
High risk/reward and high volatility.
Imagine this: you invest in a company that has no revenue or any specific product, yet you believe in the idea it promotes. You're taking giant risks because it's far from clear what to expect.
But for that you get a great opportunity to make a quick buck. In biotech, soaring by 20%, 30%, or even 100% is the absolute norm. But you have to approach it carefully, because if you fail, the reaction can be devastating.
Here is an example of successful investment in biotech companies:
Axsome Therapeutics
Ranks: 48.
The company recently grew by more than 30% after successful results from a clinical trial of its drug to treat agitation in Alzheimer's disease.
Cool? Absolutely.
Our analysts have found another attractive company with a catalyst in the coming days!
Its name is Gossamer Bio.
Ranks: 11
Financials are really weak, the Ranks system also gives it a low rating, but the coming catalyst could immediately change everything. In the coming days, the company is expected to present the data of phase 2 of its core drug GB002. Take a closer look at the company!
Biotechs are scam or great potential
biotech may get crushedif we continue this bear reversal in biotech labd may cross signal and estimate bull and reach for upper envelope in a reverse head and shouldern pattern. if we carve a path higher in major indices i expect biotech to follow.
$AMLX is back and near ATH!Hi again, I see that you are back near buy point.
I'll buy if the price breaks above this range at $31.50 and add more once breaks to a new all time high at $34.
The stock highly volatile, so I suggest starting with small positions and/or staggered stops.
Oversold, undervalued, $10 analyst price target, insiders buyingOversold likely due related to tax loss selling. Solid Q3 financials. Large insider buys. $10 price target from Scotiabank analyst.
biotech at a headprepared for different scenarios but overall continuing bear for biotech. this sector is going to get hit hard from annual plans for labs, and whether we hit top of envelope first or revisit bottom sooner were still in an overall end of bullish corrective phase from bear market leaving lows open for test.
is this biotech tank in or outthis is a top gainer today that could still go either way. if we stay above retracement we could reach for daily highs and beyond. maybe high 26s. much more likely is diving back below envelope and retesting signal, estimate, bottom of envelope around the .5 retrace.
daily chart and breakout of labulabu just completed a breakout from the abcd pattern and im anticipating a bull flag breakout to 13, then 19, in which I then see a retrace to form the handle to the base of the cup
shorting $xbi biotech/ shorting the handle to the c/hlooking for a retrace of the .618 fib level which should give way to the cup/handle breakout pattern of $xbi also notice price action at the top of the wedge
$MIRM september accumulation 👁🗨*This is not financial advice, so trade at your own risks*
*My team digs deep and finds stocks that are expected to perform well based off multiple confluences*
*Experienced traders understand the uphill battle in timing the market, so instead my team focuses mainly on risk management*
Mirum Pharmaceuticals announced a shelf offering of $10 million today. This created an excellent buying opportunity which we used as our first entry. My team will be using the rest of September to build our position. We are expecting a bullish run before the end of the year, but if one happens sooner, we will of course act in our favor and do what we think is best.
Entry: $22.80
Take Profit: Somewhere above $32
If you want to see more, please like and follow us @SimplyShowMeTheMoney
BDTX | Institutional Ownership | LongBlack Diamond Therapeutics, Inc., a biotechnology company, discover, develops, and commercializes medicines for patient with genetically defined tumors. It develops BDTX-189, an irreversible small molecule inhibitor that is designed to targets oncogenic proteins defined by the non-canonical epidermal growth factor receptor (EGFR) and human epidermal growth factor receptor 2 driver mutations. The company is also developing BDTX-1535, a brain-penetrant inhibitor of EGFR mutations, including canonical, intrinsic resistance, and acquired resistance mutations; and BDTX-4933, a brain-penetrant inhibitor of oncogenic BRAF class I, II and III alterations. It has a strategic partnership with OpenEye Scientific Software, Inc. The company was formerly known as ASET Therapeutics, Inc. and changed its name to Black Diamond Therapeutics, Inc. in January 2018. Black Diamond Therapeutics, Inc. was incorporated in 2014 and is headquartered in Cambridge, Massachusetts.
$XBI possible inverted head and shoulders bottom$XBI biotech ETF developing
a possible inverted
head and shoulders bottom formation
neckline breakout 93.50
9/28/22 XBISPDR S&P Biotech ETF ( AMEX:XBI )
Sector: Miscellaneous (Investment Trusts/Mutual Funds)
Market Capitalization: $ --
Current Price: $81.20
Breakout price: $84.40
Buy Zone (Top/Bottom Range): $80.50-$74.75
Price Target: $99.10-$100.80
Estimated Duration to Target: 75-81d
Contract of Interest: $XBI 12/16/22 85c
Trade price as of publish date: $5.40/contract
Is $XBI leading a turn up for QQQ, NDX?Both $QQQ and $XBI made a bullish reversal open on 27 Sep., however QQQ sold down while XBI moved higher.
When the daily candle on XBI (or candle pattern) does not match that on QQQ, take note. I have added lines to highlight examples, and these mismatches often occur at turning points with XBI indicating direction for QQQ.
It is not a sure predictor, as you can find counter examples also. See end of Jul. and 15 Sep. In the past few months I have found it useful to look at XBI and Bitcoin daily charts when evaluating direction for SPX and NDX.
$XBI Biotech ETF. Looking bullishGood looking channel break with an inverted head and shoulder neckline target of $91,65 Resistance is expected at this level.
LABU 3X LEVERAGED BIOTECH ETF on support for LONGAMEX:LABU
LABU a 3x leveraged EFT in the biotechnology sector has diverse holdings.
My thesis is that biotechnology and healthcare are relatively unhinged from the broader general market.
On this 15 minute chart, consolidation at support is seen in July, Price then rapidly rose
into a triple top in mid-August followed by a descent into a double bottom at the support level.
This is a leveraged ETF with good volatility which can be traded.
The volume profile of July through mid-August sets a POC as 8,65. This is the best support level
within the zone. In the same fashion the volume profile of mid-August through the present sets
a POC at 12.45 which is the bottom of the resistance zone. The spread is approximately 40% upside
over perhaps two weeks of the expectant uptrend.
The zero-lag SMA / EMA oscillator is showing green at its most recent print with an uptrend noted.
I will take a trade in a call option with a strike 20 % higher than current price
given the potential immediate upside of 40%. I will select an expiration in 4-6 weeks and hope
for a 100-200% return.
Where I'm Buying CPRXCatalyst Pharma (CPRX) is an absolute monster. Not only is the company posting huge sales and earnings growth in a sector that rarely has either, the stock has more than doubled over the last few months.
There are 801 stocks in the biotech group tracked by Investors Business Daily, and CPRX ranks at the very top (see image in chart).
After such a large advance higher, we must remain cautious to the possibility of a retracement. So we need to see signs of additional strength to trigger an entry.
I’m watching for a move above last week’s high for my buy signal. This way, I can place a stop below last week’s low and still get away with a risk of 8% or less on the trade.
NBIX Breakout TradeNBIX is in the biotech sector which I have been highlighting for several months as one of the strongest areas in the market.
After emerging from a textbook breakout pattern in early August, shares have consolidated in a tight handle formation.
If you look at the relative strength line at the top of the chart, you will notice three pink dots over the last several days. These show the RS line making new highs. Although the stock drifted sideways, the rest of the market has been in an ugly correction, so NBIX is actually holding up better than most other names.
I'm looking for a breakout on volume above its down sloping trendline.
