BLRX Weekly Analysis: Falling Wedge + Monthly Bullish Divergence
Analyzing BLRX on the weekly timeframe, the stock is showing a classic falling wedge pattern, a bullish reversal formation.
• Key Support: Holding strong at the $.40 level.
• Target: $1.00 +, Near strong resistance level.
SL: $.35 & $.31
Why This Chart is Interesting:
1. Bullish Divergence: Monthly timeframe shows momentum weakening on the downside. Oscillator divergence signal a possible trend reversal.
2. Volume Decline: Typical of a falling wedge, volume is decreasing, signaling accumulation before a potential breakout.
Watch for:
• Breakout Confirmation: Close above the descending trendline with strong volume.
Let me know your thoughts—bullish or bearish? Are you watching this potential move? 🚀
#BLRX #TechnicalAnalysis #StockMarket
• Key Support: Holding strong at the $.40 level.
• Target: $1.00 +, Near strong resistance level.
SL: $.35 & $.31
Why This Chart is Interesting:
1. Bullish Divergence: Monthly timeframe shows momentum weakening on the downside. Oscillator divergence signal a possible trend reversal.
2. Volume Decline: Typical of a falling wedge, volume is decreasing, signaling accumulation before a potential breakout.
Watch for:
• Breakout Confirmation: Close above the descending trendline with strong volume.
Let me know your thoughts—bullish or bearish? Are you watching this potential move? 🚀
#BLRX #TechnicalAnalysis #StockMarket
Dagangan ditutup: hentian tercapai
I am not closing the trade here, but for the purpose of this post it is closed. I believe this to be an overreaction, typical of bio companies. Averaged down, targets remain. Gaps to fill now at .50.
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.