#VolatilityWatch Solid BioscencesBiotech buyouts have been very strong, especially with Gene therapy stocks as of late.
Bounced off Lower end of channel
Gartley pattern
bounced off 1.618 fib extension along with important reversal leg of Elliott Wave Theory.
if price holds inside the lower end of the channel there is a potential move back up and test the gap.
looking for nice $0.40+ swing from current level.
Disclosure: I am long SLDB. I may buy/ sell within the next 72 hours. I am not a financial adviser. Please do your homework before investing.
SLDB trade ideas
SLDB- A Biotech Recovery StoryTaking a look at this chart, it prob seems pretty self explanatory. Break the green trend line and this stock will pop up nicely. The first true support is indicated by the blue line and the "Oh Shit" line is indicated by the red line. While volume has been decreasing since the first trip back to the green line, don't be discouraged as it is all part of price consolidation. Keep track of the 50 (1D) MA and buy it off the bounce of that line. SLDB has not been traded for long and being a Biotech company, please, please error on the side of caution when buying.