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PHARMA

FSD Pharma (HUGE) - accumulation before next move upFSD Pharma looks like it is in accumulation, before a move upwards that could reach as far as the local resistance 'first trouble area' before retracing back down - there would need to be significant upswing in buying volume to go further than that. Indicators - Bollinger Bands looks awfully similar to how they did in July 2018 shortly before accumulation and bull run. RSI shows price currently sitting at support level. 10 Day MA is pretty neutral, no major bullish momentum but not falling under either. This would be a good play if buying in the green box and selling somewhere in the region of the first trouble area.
HLong
by emotionallydetached
Loxo - Bull pennant and upcoming eventsThis is the weekly chart on Loxo Oncology. This biotech focuses on cancer treatments by targeting genetic mutations that create protein chimers that lead to unregulated cellular proliferation. In English, and very simply, imagine a copy machine. When you press 'Copy' you should get one duplicate of the item you want copied. Cells have similar systems where a protein in the cell membrane receives a signal from the outside world telling the cell to divide and make a copy of itself. Now imagine your copy machine crosses circuits with a 'Repeat' button. This will lead to infinite, unchecked copying. In cancer a similar thing occurs. Genetic mutations can cause the growth signalling protein to get joined to other proteins leading to unchecked, infinite cellular proliferation. This is one of the several steps to developing cancer. Loxo has developed and is testing drugs that target these specific mutations. Their leading drug, Lorotrectinib, targets TRK fusion proteins (-tinib as a suffix indicates it inhibits tyrosine kinases) and has shown good efficacy in combating several types of cancer with minimal side effects reported. Notable upcoming events are a data review at an upcoming oncology conference October 19-23, Earnings Report on 11/5/18, and a New Drug Application review PDUFA by the FDA on 11/26/2018. The last date is the most important as Loxo could see Lorotrectinib obtain FDA approval. Other possibilities for the PDUFA are an extension of the review or rejection of the drug. From the research reports I have read so far on Lorotrectinib I am doubtful a rejection/denial will happen. I suspect it will either be approved or the review extended and this will depend upon new data, likely to be presented in October. The chart currently looks bullish to me. There is a clear uptrend long term with us likely in a Wave 2 in Elliot Wave Theory. Mid term price is consolidating in a descending wedge/bull pennant. The safe trade is to buy once price breaks the top of the channel. An aggressive option is to buy when price touches the bottom of the channel. If I buy prior to earnings I will probably trim half my position the day before ER then play the run up to the PDUFA review late November. ***This is not investing advice. I am not an investing professional. Do not invest what you cannot afford to lose. All investors should seek guidance from licensed financial advisers and not random people on the internet.***
LLong
by ruud_one
Basilea Pharmaceutica AG - possible trend changeHello TA family, It looks like the ABC correction is coming to an end. The Price has dropped below FIB 0.78 to shake out the weak hands. Bullish Scenario: The indicators are suggesting bullish momentum, and we have a huge divergence on RSI (daily timeframe) and CCI (daily and weekly timeframe). The bulls have pushed the price above EMA 21 (daily), the next step is to find support above FIB 0.78. I'll ladder in with each confirmation(see the buy boxes). Bearish Scenario: If the price pulls back and drops below the recent low, with the next 2 support lines around 42 and 40, I don't expect any lower price action. In that price area, I'll take the risk and be a buyer, knowing all time high price was 140.
SIX:BSLNLong
by Verethragna
ENDP - BREAKOUT PRONE - UPDATEENDP has been consolidating from it's impressive rally in the beginning of the year. ENDP has shown strong support at it's 52 Week high. It hasn't even retraced .236 of the rally. This leads me to believe we are going to have an extended primary Wave 1. How can we discover that wave 1 was extending? Suppose the minor wave 3 travels more than 161.8% of minor wave 1 then we are seeing an extending wave 1. Suppose wave 3 is of normal proportion. Once the minor wave 4 is finished, you should draw a channel where the lower line connects the bottom of minor wave 2 and minor wave 4. The upper parallel line should be made to touch the top of minor wave 3. If the minor wave 5 goes above the top of this channel, then we are seeing the minor wave 5 within wave 1 extending, which means the whole wave 1 is an extending wave. Extended 3rd Wave: WEEKLY: DAILY: 1HR:
ELong
by FibMarketWatch