Globus Medical: Approaching resistance, is a breakthrough comingWeekly Chart
● The stock has tested the trendline resistance multiple times.
● Currently, it is trading just below this level.
● A breakout above this resistance is anticipated in the near future.
● Following the breakout, the price may increase.
Daily Chart
● A Symmetrical Triangle pattern has formed.
● A strong breakout has taken place, supported by significant volume.
● The price is now set for a potential upward movement.
Medicalstocks
Baxter International | BAX | Long at $35.00Baxter International NYSE:BAX , a company that primarily focuses on products to treat kidney disease and other chronic and acute medical conditions, is another name that had a very rough time through 2022 and into 2024. However, the company's projected earnings and cash flow are expected to grow from 2024 through 2027 and it currently has a 3.35% dividend. Interest rates being lowered soon will help these projections. From a technical analysis perspective, my selected simple moving average is working its way down to recapture the price for a likely reversal in the next year or two (unless company fundamentals change). The recent low in June 2024 was higher than the previous low in October 2023 (higher lows) indicating a high chance of future price improvement - but nothing is guaranteed. At $35.00, it is currently in a personal buy zone.
Target #1 - $40.00
Target #2 - $48.00
Target #3 - $51.50
Target #4 - $65.00
Target #5 - $77.00 (very long-term...)
DR. REDDY LABThe Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart).
Note: Its my view only and its for educational purpose only. Only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves.
we do not get into bullish or bearish traps. We anticipate and get into only big bullish or bearish moves (Impulsive Moves). Just ride the Bullish or Bearish Impulsive Move. Learn & Know the Complete Market Cycle.
Buy Low and Sell High Concept. Buy at Cheaper Price and Sell at Expensive Price.
Please keep your comments useful & respectful.
Keep it simple, keep it Unique.
Thanks for your support
Tradelikemee Academy
Saanjayy KG
A promising drug for immunotherapy of solid tumorsKey arguments in support of the idea
▪ Initial clinical data for CLN-619 are pending.
Investment thesis
Cullinan Therapeutics is a clinical-stage biopharmaceutical
company developing drugs for the treatment of cancer.
On 1 June, Cullinan Therapeutics will present data from a Phase I
clinical trial of its CLN-619 drug. The results of early-phase studies
will determine the potential of the experimental drug CLN-619 for
immunotherapy of solid tumors and hematological malignancies. At
the upcoming 2024 ASCO Annual Meeting, the Company will
present new data from the Phase 1 study (NCT05117476) of CLN619 in patients with solid tumors. The monoclonal antibody CLN619 binds to receptors on the tumor surface and increases theproduction of proteins recognized by immune system cells that
attack the tumor. Cullinan Therapeutics is exploring the therapeutic
potential of CLN-619 as a monotherapy for cancers and in
combination with KEYTRUDA (pembrolizumab). The study results
announced last week indicated a favorable safety profile for the
drug and we expect the presentation to confirm its therapeutic
potential and the ability to progress into further phases of the study.
In addition, a second Phase 1 study in patients with multiple
myeloma will be initiated in the coming months.
Cullinan Therapeutics has a diversified pipeline of
immunotherapy drugs with various mechanisms, including a latestage anti-tumor drug. One of the lead candidates, developed jointly with Taiho Oncology, is zipalertinib for the treatment of NSCLC. The Company continues to actively enroll patients in its
Phase 3 study designed to evaluate the efficacy of zipalertinib as a
first-line therapy for NSCLC. In addition, in the second half of the
year, Cullinan Therapeutics will present the first results from the
Phase 1 clinical trials on its CLN-049 and CLN-418 candidates for
the immunotherapy of recurrent hematologic oncohematologic
diseases and various types of solid tumors, respectively.
We set a Buy rating on CGEM stock with a 2-month price target
of $29.5. A stop loss order is recommended at $20.5.
STAA medical suppy small cap catching up from Covid LONGSTAA is a medical company specialized in implantable lenses. Many of those needing
lens replacements for cataracts put things off during the COVID era and eye surgeons are now
catching up on backed up patient loads. Medical insurance companies are burdened with
patients catching up from the covid delays for elective surgeries. The surgeons and medical
supply companies on the other hand are experiencing growth.
MCK a large cap medical supply company LONGMCK is a large cap medical supply company- it has experienced respectable earnings reports
and steady growth as medical entities including surgery centers and hospitals are busy catching
up on electric surgeries from the COVID era. It is rising ar or under the second upper VWAP
line. The dual time frame RSI indicator ( by Chris Moody) shows that every time the faster
RSI ( 1 hour) RSI drops down to the 50 level it rebounds with a corresponding price move up.
These episodes are shown as thin black vertical lines. One of them is at present. The
forecasting algorithm of Lux Algo predicts a further rise to the level of 575 in the next six
weeks. The last earnings was quite solid with the next earnings in 4 weeks.
I will take a long trade here. I will add to the position for any dips to or below the
running EMA 9 but not reaching the EMA100.
I will take a partial profit at 560 and cut the position down to 25% the day before earnings for
purposes of good risk management. If price crosses under the running EMA100 I will
close the trade and collect the unrealized profit.
ISRG: Controlled Sideways Patterns Ahead of EarningsThe Medical Instruments and Supplies industry had stellar growth until 2022, when it could not beat that anomaly in revenue growth which was one of the primary reasons for the intermediate-term correction in 2022.
2023 patterned out the abnormal revenues and earnings for most industries that benefited from either the pandemic or from the government OVER-stimulation of the US economy via mega amounts of stimulus checks to WORKING people. Stimulus checks should have been allocated to the unemployed only. That would have lessened the impact of the resulting anomalies. If anyone had bothered to study pandemic history, the impact would have been much less severe for American families and the economy.
As with hundreds of stocks at this time, NASDAQ:ISRG is trending sideways. This is not a perfect platform yet, but the sideways action has some of the traits of a platform such as consistent highs and lows from the perspective of a weekly chart.
The stock is above its previous all-time high now, which provides a technical support level. The weekly chart shows that there has been Dark Pool accumulation and professional traders in the mix.
IF the earnings report next week shows steady growth in both revenues and earnings in the 1st quarter, and IF the CEO's projections are positive, the stock could have an HFT gap up. If there was a negative surprise coming, the CEO should have warned by now. HFTs can make mistakes and gap it down. But if HFTs trade it down, then the stock price will immediately run back up into that sideways price level.
If the report indicates a flat or minor improvement, then it is likely to remain within the sideways trend for another quarter.
A controlled entry above the highs of the current sideways action eliminates that risk factor for either swing trading or position trading.
Has MPW Bottomed Out?NYSE:MPW has pumped 19.60%+ today, and I received a great question about whether MPW has bottomed out. There was an opportunity to buy within the buy zone, and MPW had a strong rebound out of this buy zone. The momentum is currently bullish, and there is the possibility that MPW continues trending up towards the light blue trendline, which gives a price target around $6-7 price levels. This pump is caused by bullish news that Steward is selling assets to reduce its debt, which is a scenario that I've been discussing in past updates. It is possible for a selloff after this news, and for now MPW is at a $4.60 resistance level. It is important to monitor this resistance level to see if MPW gets a rejection or break here. With a rejection, I think there can be more buying opportunities around $3-4 price levels. MPW had a strong rebound off the orange zone, flipping it from resistance into support. I think MPW could retest this orange zone at some point, and I still think MPW could retest the green buy zone during a fed pivot.
LEXX a penny medical stock LONGLEXX on the daily chart is on a big bullrun breaking out of an ascending broadening triangle
or megaphone pattern demostrative of increasing volatility. Retlative volumes are 2X the
historical comparison. Price is now on the approach to the highs of 2023 but is only 15% of
the all high highs of 19 at the neckline of a head and shoulders back in 2018-2019, In short
it has a lot of upside if it can show earnings growth on higher revenues. For now targets are
4.15 the high of 2022 and 6.45 the high of 2021 marked on the chart in black horizontal
lines. LEXX is a money burning medical penny it is high risk like its peers. The reward
potential is as much as 7X and more realistically 2X in the intermediate term.
I will so long here with the risk in mind in the context of the reward potential.
CANO While Cano Health Inc may be facing challenges, it's crucial to focus on the potential for recovery and growth. Use setbacks as stepping stones to success. The future holds opportunities for Cano Health to adapt and thrive in the ever-evolving healthcare landscape. Consider the current stock price under $3 as a potential entry point, but always conduct thorough research before making investment decisions. Remember, in adversity lies the opportunity for transformation and success. Keep a positive mindset and stay informed about the company's strategic initiatives for a brighter future.
Welltower: Bearish Gartley with Bearish Div Looking to Fill GapWelltower is yet another Real Estate focused stock that I have been tracking in anticipation of its potential downside. Yesterday they had earnings and it was nothing that impressive, so I think the Bearish RSI Divergence at this PCZ will take over and bring it down to at least $53.40 to fill the downside gap from here
UNH on watch for continuation after pullback LONGUNH after earnings with a mild beat in mid July, price shot up for one week then went
sideways and then pulled back in the past week. Price is now at 497 and under
the dynamic resistance of the first deviation line above the mean VWAP. The dual
time frame shows a good pattern with the shorter TF of 3 minutes in green above the
longer TF of 45 minutes in black. The short TF is above the 50 level.
Overall, I think the pullback is about over. I will take a long trade with a buy stop of
500.25 setting the stop loss below what will become dynamic support of the blue
line at 499.5. This is a tight stop and low risk owing to the positioning of the trade
about a support level. I will target 515.00 for a risk to reward ratio of 0.75 to 15
or 1:20 which is outstanding. I may take a call option striking $510 out a couple of months
if it would not draw down by the cash portion of my overall portfolio more than 3%. This
option premium is about $9000 but I think the potential profit is about the same.
BNTX biotech / currency play LONGBNTX a Germany company in the biotechnology and vaccine sectors out of Europe
and Germany is looking good on the 2H chart here with a volume profile and an
intermediate term VWAP overlaid. Price bounced off the bottom of the high volume
area of the volume profile and looks to be ready for a reversion to the mean and even
a sling-short move. The target here is the double top M pattern of mid July at 114.
The VPT and MACD are confirmatory of a momentum flip making for a long trade
entry. I will review the options chain for a suitable options trade with a narrow bid/ask
spread, suitable volume and open interest. If I cannot find one I'll take a trade of
10-20 shares of stock with a stop-loss of 105 to back up this trade while NVAX and MRNA
are also making moves.
ABT a slow moving low beta medical stockABT is Abbott Labs, a well-established medical technology company has had good earnings
twice this year. In the first episode, the price trended down then recovered in a retracement.
I have anchored a long-term mean VWAP and its standard deviations as a means to assess
areas of dynamic support and resistance. One week ago, the price crossed the mean VWAP in
its uptrend. I see this as a good place for a long trade over a month or more. For a stop loss
I will place the stop below the mean VWAP also confluent with two horizontal support lines
as well as the rising support trendline and the POC line of the volume profile
Targets are the first and second standard deviations at about $105 and $110. I will make an
optimal entry from a pivot low on a timeframe of 30-90 minutes.
As the anticipated ROI is relatively small although with reasonable risk, my approach is
a call option for mid-September with a strike in the range of $100-104. I expect this to
yield 25% or more monthly until signs of a pullback or reversal. While the general market
has heightened volatility and controlled chaos, I see adding some trades of slow-moving
low beta stocks to be proper risk management.
VYNE Biotech Post Earnings VYNE had a favorable earnings report last week. Fundamentally, analysts predict ( linked)
approximately a doubling of the shart price in the next year. Like many low share priced
biotechnology stocks the price is based on perceived future earnings which can be affected
by favorable FDA process, or well-received research at industry conferences and changing
financials within the company. In general, they have a low beta meaning these stocks are not
general market responsive and run on their own present or future merits.
On the 15-minute chart VYNE was trending down into earnings and the pivoted with a reversal
into the present. The Luxalgo AI "Echo indicator" predicts an upside of 20% in the next two
days before a consolidation period. The "Trendflex" indicator has flipped to postiive and green.
I will take this long trade with a stop loss of $0.15 per share and target of $9.00 over two days
for a 20% ROI and a R:R of 0.15 risk / $ 1.50 reward for a 10:1> Iwill only take biotechology
trades long with a high R:R due to the inheret risk level.
VERO Bullish Momentum Share Price SplitVERO recently underwent a stock price 15:! split. Venus Concept, Inc. develops, commercializes and delivers minimally invasive and non-invasive medical aesthetic and hair restoration technologies and related practice enhancement services. Its product portfolio consists of aesthetic device platforms which includes venus versa, venus legacy, venus velocity, venus fiore, venus viva, venus freeze plus, and venus bliss. The company was founded on November 22, 2002 and is headquartered in Toronto.
On the chart, VERO is shown to have a downward trajectory for some years. Howwver, volume
spikes are seen 5-10X relative to near term historical volume. The RSI indicator suggests bullish
divergence for about a month. Finally, price action went parabolic after the split and makes
VERO a bullish continuation candidate.
I will take a partial long position immediately while also waiting for a pullback to supplement
the initial partial position.
ABT Abbott Labs Med Tech Short Setting UpABT is shown on a 4H chart as setting up for a short trade.
Demand and Summply Zones are charted by the LuxAlgo indicator.
Price touched the supply zone five times in December- January then
descended and touched the demand zone several times in
mid-March.
Fundamentally, earnings reports have been solid. Medical stocks
are generally independent of the economy and recession resilient.
ABT has risen off the base of bottoms at support . Relative volume
exceeds that of the past year showing investor/trader interest
has increased. I think it will progress to
touch the supply / resistance zone another once or twice
and then reverse into a solid downtrend. I see this as worth watching
this upcoming week for the reversal.
Johnson & Johnson (JNJ) | Inside an Optimal Buying Zone!Hi,
The market has made some pretty good moves up and the current slight correction is bringing prices back to technically good levels and Johnson & Johnson is one of them.
Johnson & Johnson (J&J) is an American multinational corporation founded in 1886 that develops medical devices, pharmaceuticals, and consumer goods.
Technically, it has been quite difficult to get it (when there has been such a clear and strong trend, you don't have to be smart to understand that the fundamentals are fine with JNJ), because there have not been such sharp reversals, from which to find a support level and etc, but as you can see from the picture, it has not been impossible. Namely, the price of JNJ has respected a trendline for almost 10 years.
The trend line is drawn from the closing prices (you can do it easily on the line chart) to eliminate the noise and the wicks that the various waves of panic have brought. JNJ has always been bought up very quickly and the growth has been steady.
Also, the price has respected the 50-month moving average (50EMA) almost flawlessly, and at the moment the trend line and the EMA50 form a single punch and are together in one price zone.
Technical criteria for a significant level of support:
1. Trendline, clearly proven in the long term.
2. The Monthly EMA50 has held nicely.
3. The resistance level that worked for three years in 2017-2020, around $150, will start working as a support level.
4. Short-term channel projection
5. Short-term equal waves from the top: AB=CD
The optimal entry point should stay between $147-$160.
Good luck!
NUWE | Shhhhh! I Need to Add | LONGNuwellis, Inc., a medical device company, focuses on developing, manufacturing, and commercializing medical devices used in ultrafiltration therapy. The company's products are the Aquadex FlexFlow and Aquadex SmartFlow systems, which are indicated for the treatment of patients suffering from fluid overload who have failed diuretics. Its Aquadex FlexFlow system includes a console, disposable blood set, and catheter. The company sells its products to hospitals and clinics through its direct salesforce in the United States; and through independent specialty distributors primarily in Austria, Brazil, Czech Republic, Germany, Greece, Hong Kong, India, Israel, Italy, Romania, Singapore, Slovakia, Spain, Switzerland, Thailand, the United Arab Emirates, and the United Kingdom. The company was formerly known as CHF Solutions, Inc. and changed its name to Nuwellis, Inc. in April 2021. Nuwellis, Inc. was founded in 1999 and is headquartered in Eden Prairie, Minnesota.
LABU target price based on pitchfork analysisTwo pitchfork lines (one with dashed lines and one with sold lines) neatly matched their bottom lines. The price (approximately) reached that level 5 times. Further, the solid's middle red line matches pretty well the dashed pitchfork top lines. All these makes for a more confident prediction(s). The first is that the price will reach above 14 (the top dashed line), as marked. That would be above 75% increase from current price. At that point the price may or may not temporarily fall back after which I expect to continue up reaching above 22 (the marked top solid pitchfork line). That's over 175% profit.
I have been long on LABU since 6.47 (as posted elsewhere).
GENNEXE LAB - WEEKLY CHARTIts looking bullish, waiting for the this to correct and then give us long opportunities.
Note: its my view only and its for educational purpose only. only who has got knowledge in this strategy will understand what to be done on this setup. its purely based on my technical analysis only. we don't focus on the short term move, we look for only for Bullish or bearish impulsive moves on the setups after a good price action is formed. we never get into corrections. it will test our patience and also it will be waiting period.
Just ride the bullish or bearish impulsive move.
buy low and sell high concept. buy at cheaper price and sell at expensive price.
Keep it simple, keep it Unique.
7/4/22 SWAVShockWave Medical, Inc. ( NASDAQ:SWAV )
Sector: Health Technology (Medical Specialties)
Market Capitalization: $7.109B
Current Price: $198.62
Breakout price: $200.15
Buy Zone (Top/Bottom Range): $194.30-$180.50
Price Target: $217.20-$221.90 (1st), $246.50-$249.80 (2nd)
Estimated Duration to Target: 38-40d (1st), 83-88d (2nd)
Contract of Interest: $SWAV 8/19/22 195c, $SWAV 10/21/22 195c
Trade price as of publish date: $19.10/contract, $26.50/contract