CYTK BOUNCING BEFORE A NEW WAVE DOWN?CYTK has broken the uptrend on 4h chart and now it's bouncing. I'm expecting a test on the breakout area before a new wave down. Let's see how it develops.
CYTK trade ideas
$CYTK breakout watch tomorrowCYTK has formed a top and it's grinding up closer, starting to consolidate. I'll be watching for the breakout over the resistance, with an exit if it breaks under the trend line.
CYTK Massive H&S?Interesting shoulder level matching perfectly with 50% retrace fib levels. Perfect symmetry. Keep an eye on the neckline, if brake - sell.
CYTK: Longs From This Area Anticipated Short Term #DiverganceFriends,
Possible long from this level, using divergances as my justification, purely because I like to keep in practice with strategies, even ones like this, that I don't even use.
Hidden divergence in multiple momentum indicators, giving us an opportunity to buy off a dynamic support and a nice set of candlestick signals. The lower open and buybacks today, shows the bulls appear to be around, despite this fact. There is strong resistance at 7.90's, but I imagine profit taking will be happening before that anyway.
-Non-aggressive: RR @ 3.32
-Conservative: RR @ 4.29
-Aggressive (My likely choice) RR @ 6.37
Low price, low SL's, using tight SL's procedures on lower price stock optimises profit, without compromising a reasonable RR model.
Thanks for viewing.
Tom
CYTK: Looking For Short Off Clear Resistance LevelFriends,
Looking to go short if we open lower, the resistance level is looking nice... Yesterdays candle showed sellers continued enthusiasm to go short in this stock because the upside was completely rejected, giving us a low wave rejection candle into the resistance again, verifying its integrity.
This stock has been known to be volatile.
Regards
Tom
