BIIB has been in a downtrend for about 9-months. In March was the formation of a double bottom with volume confirming a reversal (left most green arrow). In May was the formation of a new lower high. This is confirmation that a new bullish trend is underway. On Tuesday, May 31st BIIB broke out both above the 200 SMA and and out of the downtrend channel on confirmed volume.
I am going to catch the next lower high and place my stop below the trend line:
Trigger (.5 fib): 264.44
Stop (.382 fib): 259.47
Target: $327.71
This trade has a reward: risk of 12:1. There is way more upside if you believe that all gaps are eventually filled or come close to being filled.
If the stock does not trigger because my trigger is too low I will look for a new entry along the lower black trend line.
I am going to catch the next lower high and place my stop below the trend line:
Trigger (.5 fib): 264.44
Stop (.382 fib): 259.47
Target: $327.71
This trade has a reward: risk of 12:1. There is way more upside if you believe that all gaps are eventually filled or come close to being filled.
If the stock does not trigger because my trigger is too low I will look for a new entry along the lower black trend line.
取消訂單
Just a huge bearish gap today after such a promising chart pattern. I will not get into this trade as a result of the gap down.
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免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。