Acadia: Stochastic Oscillator UpturnStochastic Oscillator shows upturn for Acadia. Ichimoku Cloud support is very important in this case since today's session is not breaking it and could demonstrate positive trend force.
Please note that biotech companies present high uncertainty.
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ACAD trade ideas
Put Option on ACAD 9/9/19Bought $ACAD $20 strike puts with expiration on 1/15/21.
I am calling this a short squeeze. Research published today shows Nuplazid as a promising drug for Parkinsons induced Psychosis. Looking into the research paper, they used a "one sided" P-Value test, which negates the reverse end of the gausian curve. I think they are doctoring the study after mortality rates increased from last trial. Drug still comes with this warning label.
P-Value very significant, but I think it is suspicious.
WARNING: INCREASED MORTALITY IN ELDERLY PATIENTS WITH DEMENTIA-RELATED PSYCHOSIS
Elderly patients with dementia-related psychosis treated with antipsychotic drugs are at an increased risk of death.
NUPLAZID is not approved for the treatment of patients with dementia-related psychosis unrelated to the hallucinations and delusions associated with Parkinson’s disease psychosis.
Looking to hold for a week to a month, once the price breaks down. I view this as non news and a short squeeze.
Article doesn't even mention which carriers will reimburse the drug and etc.
Long-term buy on ACADToday's trade idea is a long-term buy on ACADIA Pharma. Starting with a weekly chart on the left, we can count an impulsive move from the 2010 low (starting below $1.00). The extended Wave 3 clearly subdivides into five smaller waves, increasing our conviction in the count. It's also worth highlighting that the prior all-time high around $18 held as support after being broken in 2013.
Looking at the daily chart on the right, we can see what may be a complete Wave 4 above $13. The corrective sequence is neatly contained within a parallel channel and has a clear triangle in Wave B. This count suggests that the bounce from the bottom of the channel is the start of larger-degree Wave 5. Initiating a long position at market with the intention of holding long-term for new all-time highs.
Get in Late, But Get in With ConfidenceI had this ticker in my watchlist, but for some reason, I just realized its pattern is broken from the downside. It has both advantages and disadvantages; We are at least 2 days behind from the move, but nevertheless, we are confident that the move is surely present. Here, we have an ascending triangle at the very end of a strong bullish move. Even though this pattern usually breaks out from the upper boundary, the price just did not have the necessary momentum to do so for this time. The lack of bullish momentum is already apparent when the price marks a higher high, but the MACD histogram makes a lower high. This is referred to the Bull's Broken Back. Since bullish momentum is absent, the price ultimately fails to raise and the decline began. The downward move is strong enough that breaks the bottom boundary of the triangle pattern. I will probably not trade this one just because I am not liquid, but my guess is that we will move down to at least ~$24.00. If the $23.40 support could not stop the bears, then we shall see another downward move to ~$20.00.
God willing...
Biotech name using fib extension and support/resistance levelsACAD
100% fib extension coincides with resistance level from ER gap down at the end of February.
Stock has not only weathered the recent market sell off but also printing a bull flag.
Anticipating a continuation of advance coupled with increased volume.
Potential Breakout on ACAD?Managed to find a clear line of support on ACAD at the base of a descending triangle (previously a support line, but acting as resistance now) and have a breakout attempt, which seems to have been shot down by the bulls, however, we have a few green candles breaking out currently, but have not had a confirmation of support. Does anybody have any thoughts on the matter?