FUM trade ideas
FUM.GB: Bullish Flag (80%)Bullish Flag (80%)
Pros:
Volume during post formation
Descending volume during Flag formation
PPS above 50MA and 200MA
RS above 0 and ascending
R/R ratio above 7
ATR ascending
250RSI above 50 and ascending
Cons:
200MA flat
Target:
PT = 122.30$
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Futura Medical (FUM) - Long TradeFutura Medical plc is a United Kingdom-based pharmaceutical company that develops products for consumer healthcare. The Company is engaged in the research and development of pharmaceutical drugs and medical devices and the commercial exploitation.
Looking for entry around the 50% retrace of last move up. With support from the 200ma around same level. Still not quite as oversold as I would like to see.
2:1 Trade.
8% or so RISK. Stop just below 61.8% FIB. Vs 20% REWARD.. Back to recent highs.
Fundamental and news flow aside. Activity in IMM last week may also potentially bring FUM back into focus?
