ACAD trade ideas
ACAD: Next Big Thing In Biotech ??ACAD starting forming a Triangle from its all-time high $51.99 way back in Jul 2015.
Prices have been consolidating for almost 2 full years which is almost identical to that of CELG.
CELG and biotech sector has been rallying lately as a whole.
ACAD could be the next in line.
A successful confirmation of its triangle will imply an upside target of its all time high at $51.99.
A aggressive entry at current price with SL at its recent low at $25.05
A conservative entry will be a strong break of its B-D trend line.
Key support: $20.68
Critical support: $16.64
Break of mentioned supports will imply other possible options.
$ACAD Macro bullishACAD is still bullish, we're just waiting for the new agreement coming.
President Trump just distracted Biotech stocks
ACAD Retest Looks to be a potential retest of medium term break in downtrend. Confirmed by reversal around the 36 level.
Long ACAD above $30. Target 31 and 35 in January. ACAD in a money squeeze that appears to release soon to the upside coinciding with resistance break through. Daily MACD turned bullish and major MAs turning up. A good long idea upon confirmation of break out.
ACAD attempted a breakout today, watching tomorrow for actionACAD failed at a breakout today, if this has a gap up tomorrow then keep it on the radar for the morning!!
digesting the run so farno touch until over 30.23. would go long at 30.33. so much chance of falling back based on prior trend
PullbackNow a little bit serious trade. It is expected that price will go up to green line and than bouce down. Look for the price movement and adjust the enter point.
$ACAD chart update post-$BIIBThe $BIIB buyout story has put a bid under other key biotech buyout targets like $ACAD. Chart shows a steady accumulation within a bullish channel in a modest uptrend.
$ACAD sideways channel ready to break higherBullish chart here as shares are under accumulation within this high-level consolidation channel.
$ACAD bullish base breakout Everyone's favorite pre-buyout biotech is showing a bullish rise out of consolidation.
Tripple bottoms' patterns: statement of continuing growth (ACAD)1 multiple bottom and 2 double bottom allow us to forecast growth in stock price.
Moreover there is a potential flag formation or, in other words, consolidation for next bulls' movement.
Our recommendation is to buy.
Entry point 37.00-37.50 (breakout of top flag's (consolidation's) line)
Stop loss 35.45 (-1 tic 35.46 current flag's low)
Take profit 42.50 (strong level+Elliot's waves approaches)
Risk/return ratio 1:3
