BTAI BioXcel Therapeutics Options Ahead of EarningsAnalyzing the options chain and the chart patterns of BTAI BioXcel Therapeutics prior to the earnings report this week,
I would consider purchasing the 3usd strike price Calls with
an expiration date of 2024-3-15,
for a premium of approximately $0.25.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
BTAI
BTAI | InformativeNASDAQ:BTAI
Technical Analysis for NASDAQ:BTAI :
If the price of BTAI breaks above the bullish line of $11.61, it may indicate a bullish signal, suggesting potential upward price movement. In this scenario, the target price could be set at $16.80.
Conversely, if the price of BTAI breaks below the bearish line of $8.80, it may suggest a bearish signal, implying potential downward price movement. In this case, the target price could be set at $6.80.
Added $BTAI Target 42.51 for 47.09% $BTAI Target 42.51 for 47.09%
Or next add at 23.79
There is a bullish RSI divergence on the daily chart... I'd like to see this hold above that trendline...
Just looking at indicators... if it holds I might even add a little more tomorrow for the ride up...
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On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average.
ONLY ADD at support levels & FIB levels… labeled
I start every position with .5 - 1% of my account and build from there as needed and as possible.
I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed.
GL and happy trading.
🟢 NEW POSITION $BTAI Target 37.60 for 30.1%$BTAI Target 37.60 for 30.1%
Or double position at 20.20
I took this one earlier today… @28.90… Let’s see what happens…
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On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average.
I start every position with 1% of my account and build from there as needed and as possible.
I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed.
GL and happy trading.
I finally added my YouTube Training Video to my profile tagline since I’m not allowed to on here. It’s a quick 15 minute training video on how to set up your chart and how to spot opportunities. So check here first but If you have questions just message me.
BTAI Symmetrical Triangle Breakout: Potential for 100%+ returnsBTAI has just broken out of a nice bullish symmetrical triangle formation. As you can see from my chart the breakout was backed by strong volume as it occurred at a significantly higher level of volume than seen during the consolidation phase. Now that the breakout has occurred you can also see my GMMA oscillator is dying to cross over into the green. The last and only 2 times the GMMA oscillator turned green on the 1 week chart it was followed by major price run ups. The first time we saw price rise from $5.60 in late December 2019 to $43.75 by Mid February 2020. The second time this occurred we saw price rise from $22.50 in mid April 2020 to $71 by mid July 2020. If we have another strong crossover into the green I fully expect another major run up in price. In addition to T.A I have also set a price target of $105 based on fundamental analysis. When coming to this number I was pretty conservative in my calculations and feel that the real upside may be even higher than this $105 number. Overall I am feeling very bullish on BTAI.
$BTAI Triple Top At $12$BTAI should see a major breakout above $12. The risk/reward setup looks promising.
About BioXcel Therapeutics, Inc.:
BioXcel Therapeutics, Inc. is a clinical stage biopharmaceutical company focused on drug development that utilizes novel artificial intelligence approaches to identify and advance the next wave of medicines in neuroscience and immuno-oncology. BTI's drug re-innovation approach leverages existing approved drugs and/or clinically evaluated product candidates together with big data and proprietary machine learning algorithms to identify new therapeutic indices. BTI's two most advanced clinical development programs are BXCL501, an investigational sublingual thin film formulation in development for acute treatment of agitation resulting from neuropsychiatric disorders, and BXCL701, an investigational orally administered systemic innate immunity activator in development for treatment of a rare form of prostate cancer and for treatment of pancreatic cancer in combination with other immuno-oncology agents. For more information, please visit www.bioxceltherapeutics.com.
As always, use protective stops and trade with caution.
Good luck to all!