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Nice analysis. OK, who am I to question your great charting read.
But I like to add what I'm seeing, VRX been trading in a range (box) for almost 3 months which usually I find the best trade is to wait for a break from the range (box) short below, long above.
Today was the first day it closed below 5/12 low of 22.52 and outside the lower range (box) also, the 89 MA is pointing straight down with price below (BEARISH)... Having said that, news can send it soaring for a ST trade which I hope for your sake it does!
https://www.tradingview.com/x/hOQPFbnC/
Nice, I got in earlier avg .19 lets do it $NFLX
Thanks!
Next round target?
Nice,, I'm holding 6/24 105 calls @ .90 I'm thinking to hold onto as it can make a huge move by then..
Nol, WYNN doing it..
Amen brother..
"Charts don't lie, people do"
WYNN getting fueled for an epic move higher out of these powerfull patterns:
https://www.tradingview.com/x/LBgSkFvl/
Should.. Hopefully they don't pull any rabbits from their hats in the morning ??
Already in 6/24 167.50 puts. Thanks
I'm holding $BIDU 6/24 157.50 Puts.
Where does your chart see $BIDU target after today's AH smack down?
Love your work also..
Cheers!
NFLX, yes oversold but could be setting a nice shortable trade at neckline on gap fill bounce.
https://www.tradingview.com/x/EKSYjyCJ/
Could.. If markets get legs higher.
$IBB monster bearish pattern.. Expecting repeat of the same previous pattern.
https://www.tradingview.com/x/CXaJCyTR/
$BIDU nice charts as always!
Holding 160 puts for next week.
https://www.tradingview.com/x/Jyp0Z2QS/
$DIS on watch for neckline break or hold support.
https://www.tradingview.com/x/RVBWOLRK/
I do find Brian's VWAP interesting, but TOS does not have that indicator..
Can we see a chart example with VWAP please.. Thanks
Nol, I want to extend my condolences to you and yours.. In our prayers!
Family and health is all that matters.. Money is just a game that we play and manage, none of us will take anything with once we depart this tiny dot called earth.
Also, congrats for being part of the MOD SQUAD The Greatest and most importantly an honest cyber community JB and co have created.
Cheers!
DUST look at the volume, indicative of some strong upside, smart money loading up in anticipation of much lower prices in Gold and Miners IMO!
https://www.tradingview.com/x/LV2N9O3c/
The FDA, waiting until almost midnight, the Friday before the Memorial Day long weekend, 5/27/16 approved Ocaliva (Obeticholic Acid) for the treatment of the liver disease PBC (primary biliary cholangitis), formerly known as primary biliary cirrhosis. Approval was largely expected (the FDA Advisory Committee had previously voted 17-0 in favour), but the good news appears to be that the conditions attached to the approval are modest. Safety concerns had some worried that sales could be hampered by restrictions on use in patients with moderate or severe hepactic impairment, but the prescription label has no such restrictions from my reading of it (link for your perusal): ocaliva_pi
PBC is a rare, autoimmune cholestatic liver disease that puts patients at risk for life-threatening complications. PBC is primarily a disease of women, afflicting approximately one in 1,000 women over the age of 40.
Sales of OCA will begin In 7-10 days and expectations are that peak sales could reach $2.6 billion per annum. $ICPT closed Friday at $141.77 with a market cap of $3.5bln. With a typical valuation of 7x sales, clearly there is scope for a rally from here. ICPT’s float is small at 17.44mm shares and 3.4mm shares (19.5%) are held short. 78.5% of the shares are held by institutions. Fidelity Investments is the largest holder with almost 15%. The lifetime high for the stock was $462.26, which will not likely be eclipsed until OCA for NASH is approved in early 2019 (which obviously depends of the results of the 2,000+ person global trial).
Another likely scenario is an approach from a larger player seeking a blockbuster drug to add to their stable. With OCA approved for PBC there is now a risk buffer to await the 2018 outcome of the phase 3 “Regenerate” trial for OCA in the treatment of NASH. Nonalcoholic steatohepatitis (NASH) is a significant metabolic form of chronic liver disease in adults and children effects a much larger percentage of the population that PBC. The OCA dosage for the treatment of PBC are 5-10mg whereas for NASH the trial is being conducted at dosages of 10 and 25mg. There are currently no drugs approved for the treatment of NASH and OCA was the first drug approved for the treatment of PBC in 20 years. PBC & NASH are distinct, progressive liver diseases. Both diseases may lead to fibrosis and cirrhosis of the liver. From a valuation perspective most would argue 20% to the PBC application of OCA and 80% to the much larger NASH opportunity.
XBI the SPDR S&P Biotech ETF is -26% ytd in 2016. ICPT is the 4th biggest holding in the ETF at 2.6%.
What lies ahead:
Next week analysts will be tweaking their ICPT numbers based on the terms of the OCA for PBC approval. Most recently MS moved to underweight with a price target of $80. Stingy indeed when ICPT have > $22 a share in cash on their balance sheet! Merrill Lynch have an underperform on the stock and a $144 target. ML used to be the biggest bull on ICPT, with a target > $800 per share when Rachel McMinn Ph. D covered them, before joining Intercept Pharma as Chief Business & Strategy Officer in April 2014.
The street conjecture will also begin as to the timing of a bid and take-out premium likely on a bid for ICPT, now that a level of uncertainly has been removed.
No position in ICPT, but love NVRO story and potential and holding calls, I think we get a quick shakeout drop to 66 and then 75+ before June expiry..
$ICPT Ocaliva FDA approval last night could have it soaring on Tuesday.
Still room for all mentioned if gap close is what's on hand..
NVRO... Love the story and the chart pattern:
https://www.tradingview.com/x/qBnuNOXP/
GOOGL should be explosive as soon as Tuesday opens.. Maybe a gap n go based on today's close.. I'm thinking.
Holding 765 for next week.
Thanks!
Nice and clean chart!!
Are you thinking gap fill 101-102ish for potential target?
LNKD on the move....
LNKD love to see it heading to to the cloud inside.. 128.99 being an obstacle for now, we need it to close above 131 otherwise an ugly candle..
https://www.tradingview.com/x/ZZUZSeDR/
Please elaborate if you don't mind "Against a 3SmMA with a -4 shift gives entry/exit points?
Thanks!
Thanks...
AMZN 707?
Yes, I use it all the time and all time frames.... Standard TOS settings is 20 I tweak it to 16
How do you use it, in what time frame your FB HULL did you use?
Odd, still on track for such a huge SPY 189-190 drop in 2 weeks?
Go time, where to?
Yes, the 3 day rule has been a great tool on high beta's,, 3 days up after breakout then DOWN.. Love to see it below 700 today to unload my 700 put hedge for today vs my 750 calls for 5/27