TCON 15Min Scalpers editiontest
TRACON Pharmaceuticals, Inc. engages in the development and commercialization of targeted therapies for cancer, ophthalmic, and fibrotic diseases. Its products include TRC105, an anti-endoglin antibody for the treatment of solid tumor types; TRC205 created for the treatment of fibrotic diseases; and TRC102, a small molecule that is in clinical development made for lung cancer and glioblastoma. The company was founded in October 2004 and is headquartered in San Diego, CA.
TCON
On Balance Volume Use CasesTCON
BNGO
ONTX
$TCON daily chart. January 16 2020 traded half it's float.
March 2020 - Covid
3/16 to 8/27 Consolidation and huge block orders.
Notice how regardless of the price, OBV is climbing higher and higher steps up, 1 step back 2 steps forward. Simple addition then subtraction rules apply and add and subtract green/red days volume for weighting.
Then 8/17 TCON traded nearly twice it's float and laid dormant for close to a week. Despite many daily candles being red (faded) OBV jumped up from 12M to 30M overnight...
$TCON then ran from $1.50s to $12.30 over the next few months.
After look.
$BNGO same story.
After.
$ONTX insane gap fill off a phase 3 failure.
After.
Overall, if obv doesn't look like this I rarely enter trades long term unless its an intraday position or possible swing. I'll have more examples coming. Good luck and I hope this was useful.
PERFECT SETUP FOR 3x price actionWave formation, should push into next Fib. Level. Price target $9.30
TCON Tracon Pharmaceuticals, INC. Massive Gains, High Risk!keeping it simple!
We have seemed to reach the bottom 2$ mark once again, and have indicators of a bounce to the top of the wedge, and possible breakout!
I see the moku cloud turning bullish slightly, and buy signals in this area firing.
We had a weekly sqeeze fire short, which seems to be slowing down right about now, with noticable increased volume over the last week.
TCON is also having a update in 2 days at a conference, which could be a positive. Usually people only meet to update investors with PROGRESS.
High risk trading here, massive potential gains. BIO stocks are locked and loaded!
Happy Trading, debating and speculating!
