NorthWest Biotherapeutics Inc (NWBO)

[FlyFishingStocks]

My NWBO TA perspective

I'm unfamiliar with the fundamental developments of NWBO, but couldn't help notice the nice October rally, followed by bullish consolidation that appears to be on the verge of ending.


A series of bullish falling wedges each losing more and more bear power as evidenced by their slope, higher highs and dominant bullish wave volume is what caught my eye. This is a classic sign of absorption of the selling.

In addition, each wedge displayed a hard squeeze near its apex, similar to the current (flattest of the three) wedge(far right).

Also notice the latest heavy bearish wave volume but flat price action that failed to break down. This big effort/no reward is indicative of a potential reversal/resumption of its long uptrend IMO.

The signal line breaking up through its down trendline(yellow highlight-far right) could very likely be the spark to turn prices up once again.

Based on this analysis, I am thinking about an entry on a breakout above today's high.

Please advise if I am overlooking something or there is a fundamental red flag that I'm not aware of.

FFS