Get started

Pharmastocks

Moderna Break of Major Support, Short PotentialThis is a Technical Analysis on Moderna (MRNA) on the 1 Week Timeframe. Current price action shows that we are currently in the process of breaking a MAJOR SUPPORT Zone. We held critical SUPPORT multiple times ABOVE the $115.00 level, for a span of about 26 months. Expressed by the GREEN circles. But notice we havent been able to successfully rally and stay above the "MAJOR RESISTANCE" line. Though the CURRENT candle has not yet closed, which it will end of trading session Monday, the 7th of August. This in my opinion is a critical development. If we CONFIRM below this $115 ish area, the lower range of about $82.00 of the ORANGE zone becomes more likely. The ORANGE zone, or price range between $115 and $82 has barely any market structure or in other words barely any candles. It would be easy for price to fall stright down, in my opinion. This can be an area to take a SHORT position. Another thing to notice since the BLOW of top, we have been forming a DESCENDING TRIANGLE. Its been forming since August 2021, this is NO JOKE. Measuring the target of the end point of descending triangle we get about a 75% drop target. Just remember it doesnt have to play out exactly but its something to consider and keep in the back of the mind. So just to mention: 1st Target = $82 ish area 2nd Target = $57- $47 range Last Target = Descending triangle measured target of $29 ( *Less likely for the time being) RSI has been: 1. printing Lower Highs 2. is currently below the Black Moving average, which i use as an indication of price moving down 3.Is currently in process of ALL TIME RSI LOW, provided we close this weeks candle at current RSI lvl. STOCH RSI -> Setting up for a BEARish cross. This if it occurs and we are below the MAJOR SUPPORT, bearish momentum can push price down. Lastly ADX & DI -> We have RED line cross above Green and pointing up. We need to observe this, this indicates also the BEARISH momentum is coming in. If the BLACK moving average curves up and starts moving towards the RED/GREEN line with RED being on top, this will indicate bearish momentum. CONCLUSION: We are at major cross roads for MRNA. If we don't have any buying occur during Mondays trading session, and we close below MAJOR SUPPORT, it may be time to SHORT MRNA. We have not had any luck trying to break and stay above the "MAJOR RESISTANCE" line. This, along with multiple touches on MAJOR SUPPORT, has made this WEAK (in my opinion). Short targets include the primary, secondary and descending triangle target levels. Indicators are also shaping up to support the current price action. At times like this, it is important to observe further clues of bearish activity, to be patient and take it one step at a time. Thank you for taking the time to read my analysis. Hope it helped keep you informed. Please do support my ideas by boosting, following me and commenting. Thanks again. If you have any questions, do reach out. Thank you again. DISCLAIMER: This is not financial advice, i am not a financial advisor. The thoughts expressed in the posts are my opinion and for educational purposes. When trading always spend majority of your time on risk management strategy.
NASDAQ:MRNAShort
by SafofAllTrades
Axsome Therapeutics building momentum Axsome Therapeutics Inc (AXSM) I have been in this spot trade since $50.77. We are now at $72.93. I have much higher targets as you can see from the chart. This is a long term trade looking to hold for 12 – 24 months however feel that something is going to happen within 6 – 12 months based on the chart. - Forming pennant on chart and RSI. Potential for breakout. - Steadily increasing OBV (On Balance Volume) demonstrating continued interested in the trade. - Stochastic Momentum indicator (not included on chart is driving upwards on the weekly). - You can see the orange boxes which act as accumulation zones with double bottoms before the larger move occurs. - We are above the 200 week and using it as support and we are above the 200 day also using it as support so we have limited downside with strong support. This purchase has been helped me recognized that Pharma appear to companies perform much better when the general market is in decline. They appear to be inverse risk on but also make small advances during risk on periods. It’s a market that I am becoming increasingly interested in as a diversifier and value lock. Obviously this is a smaller pharma company with higher risk in the trade, however if I was Regeneron or Johnson and Johnson and I see Axsome’s patents, drug offerings and the general population they are targeting with depression, Alzheimer’s and fibromyalgia, seems like a no brainer to buy them out. Fundamentals: AXSM are a Small Bio-Pharma company with market cap of $3.17 Billon. In August 2022 Auvelity Anti-Depressants was FDA approved & is the only rapid-acting oral medicine for MDD with labelling describing statistically significant antidepressant efficacy by one week. AXSM received Breakthrough Therapy designation from the FDA for an Alzheimer's disease drug development and are at the NDA phase for developing a drug for acute treatment of migraine. AXSM are also developing a treatment for narcolepsy and separately for fibromyalgia. All in, AXSM's offerings are building momentum. They have developed the fastest acting anti-depressant drug and are bringing it to market, and have a four other drugs in development, all of which have a large patient base. The company would be ripe for a buyout.
NASDAQ:AXSMLong
by PukaCharts
ALKEM LAB BULLSIH PATTERN _Daily Timeframe_NSE:ALKEM Stock is consolidating between 3350 to 3450 approximately a month. Price 3350 is holding as good support. Currently we can see there is a morning star pattern(Bullish Pattern) at support which is a sign of strength. We can go long at these levels and keep SL below swing. The stock should not open gap down on 28th June. Following to this check 1hr time frame we can see there is a reverse head and shoulder although the Shoulder length is a bit low compare to usual H&S. This is a good opportunity for positional traders stock has potential to go 3600 in upcoming weeks. Keep eye, Thank you. This is only for educational purpose, please manage your risk accordingly.
NSE:ALKEMLong
by Rushikesh_09
Merck: Water slide 🛝The pool-season is about to start, and Merck has already secured its place on the water slide, which should take it further downwards below the support at $110.66. However, there is still a 35% chance that the share might catch a bubbling fountain which could push it above the resistance at $119.65. In that case, we would expect Merck to develop a new top in the form of wave alt.B in green in the green zone between $119.87 and $123.79 first before turning downwards again.
NYSE:MRK
by MarketIntel
VRPX Biotechnology Penny Stock Post EarningsVRPX was on a downtrend from mid-February into a reversal the beginning of May. VRPX beat earnings up still has no cash flow which is very common in this subsector. VRPX is priced on the potential of future earnings. The short and long-moving averages ratio shows bullish momentum also shows strength with an upper Bollinger Band "walk". Price has climbed over the POC line so it is higher than the mean of the share price traded for the duration of the volume profile. I see this as a risky long setup expectant of a 40% profit based on the target of the YTD high in February.
NASDAQ:VRPXLong
by AwesomeAvani
Technical analysis of AbbVie #ABBVHey traders, My weekly trade idea. The daily price is forming a textbook Cup&Handle formation. After the consolidation in the handle phase, the price is ready to go higher. The momentum will push the price and in my opinion, it is headed to test the all-time high in the 180$ area. The Relative Strength Index broke above its trend line and is moving upward to push the price. Furthermore, when we plot different standard deviations and volume profile, it becomes clear that there is a lot of support and volume right below current price levels! I would love to hear your thoughts as well. Cheers
NYSE:ABBVLong
by RickHardyPro
3
JNJ Buy Long on StrengthJNJ fundamentally is a cross between Big Pharm and Consumer Staples Recent Earnings were solid not spectacular but the latter is not expected here. Technically, JNJ climbs higher without much volatility, At the moment it is rising in a small cycle within the supertrend. Strength is increasing and some bearish momentum is exhausting. This is a low-beta stock and it does not react much to the larger broad market. I see this as a good time for a LEAP option for early 2024 at a strike 15% above the current price.
NYSE:JNJLong
by AwesomeAvani