$BBIO * BRIDGEBIO PHARMA TC FIB EWP DAILY TF ANALYSISThe chart is suggesting that NASDAQ:BBIO is in the process of a Wave 4 correction, which should push the price lower in the short term. The correction appears to be reaching support levels near $18 or $17, which could be a good area for a reversal.
If the correction holds these levels, the next move could be a Wave 5 rally, targeting around $61 and above, based on previous wave structures and Fibonacci extensions.
The RSI is not yet in oversold territory, meaning there could still be some downside left in the current corrective wave before a reversal.
The technical analysis indicates a temporary pullback in NASDAQ:BBIO stock, but with strong bullish potential in the medium term, aiming for new highs if the correction finds support around the $17-$18 level. The projected Wave 5 could bring significant upside momentum, potentially reaching up to $73.50
