BLUE trade ideas
BLUE - Gap Fill at 177.20$Gap Fill at 177.20$ , support at top channel 169.80$ and bottom channel 161.15$
BLUE analysis - longer term pennantWeekly chart
Just threw a fib up there and drew some lines
looks like we are in a long term pennant/wedge
I would wait to see how we break out of this pattern
$BLUE Oh my This week has been one for more hesitant type of trades (Fed rates, ECB, $CMCSA vs $DIS vs $T vs $FOXA, NK summit, etc.,). Haven't seen my A+ type setups until now. Announcement for $25M company buyback over next few months is definitely one about to fuel the fire that's dulled out from "Trade wars", "rate hikes", "Corporate credit after vertical merger this that", or every other Chinese related company outperforming $SPX this week. Nonetheless, weekly setup is as golden as daily (depending on Friday EOD). Week high is $199.70. Break above $200 & I'll be expecting a bull run like we haven't seen since before Feb lol.
$BLUE, LONGGood risk/reward here.. some good news in the name, bounce off 50 day and recent trend line, good amount of support here
BLUE long if strong tomorrowBluebird has been a strong performer over the past year, which is now testing support. It probed its rising trendline support yesterday, and today dropped below that and tested its 100-day SMA. It seems that valuation concerns are the reason that the selling got underway a couple of days ago. But I haven't read anything negative about the strength of their pipeline. I do agree that a $10B market cap is a lot for a pre-revenue biotech. But there are some very large indications getting addressed by BLUE (sickle-cell disease and myeloma, just to name two). I am not sure what to make of the CELG partnership, now that CELG has bought BLUE competitor JUNO. But all in all, I do like BLUE for a bounce after 7 days of selling. If it's green tomorrow, I would favor a long entry.
Is this a Top?Bluebird kissed a resistance cluster @ 145, so 136 and 145 are the Levels to watch in the shortterm view
Breaking the shortterm uptrend could initiate a sellingwave down to 124/107
BLUE - Head and ShouldersThe right shoulder has completed, the price bounced off of the neckline, I will be watching to see if the price continues higher from here or fades and breaks the neckline.
BLUE - Possible Head and Shoulders PatternLooks to be a Head and Shoulders pattern forming, I will watch for a continuation to the downside.
Possible short swing trade or intraday short.
Rounding btm (right side)Could be long against $79.70 if willing to risk 10% to make 100% (equity play)
