Today's trade idea is a long-term buy on ACADIA Pharma. Starting with a weekly chart on the left, we can count an impulsive move from the 2010 low (starting below $1.00). The extended Wave 3 clearly subdivides into five smaller waves, increasing our conviction in the count. It's also worth highlighting that the prior all-time high around $18 held as support after being broken in 2013.
Looking at the daily chart on the right, we can see what may be a complete Wave 4 above $13. The corrective sequence is neatly contained within a parallel channel and has a clear triangle in Wave B. This count suggests that the bounce from the bottom of the channel is the start of larger-degree Wave 5. Initiating a long position at market with the intention of holding long-term for new all-time highs.
Looking at the daily chart on the right, we can see what may be a complete Wave 4 above $13. The corrective sequence is neatly contained within a parallel channel and has a clear triangle in Wave B. This count suggests that the bounce from the bottom of the channel is the start of larger-degree Wave 5. Initiating a long position at market with the intention of holding long-term for new all-time highs.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.