Previously I called a long on LHC at 1977c (13 May idea attached), citing the relative strength vs the broader market. The name traded above 2800c less than a month later, driven by the Biogen/Alzheimer's news.
Comparing the current price structure to Biogen in the US, I note Biogen having previously developed a bearish flag formation which was a precursor to the recent move lower.
Could LHC follow a similar structure in the short term? Here are two scenarios:
1. From the immediate structure, the 2390c level needs to be breached, as confirmation of the downside move.
2. If it trades higher then a level will be confirmed but preceded by a break of the channel support.
I'm monitoring for a short term opportunity.
For more high quality insights and real-time trading ideas, get in touch today.
Comparing the current price structure to Biogen in the US, I note Biogen having previously developed a bearish flag formation which was a precursor to the recent move lower.
Could LHC follow a similar structure in the short term? Here are two scenarios:
1. From the immediate structure, the 2390c level needs to be breached, as confirmation of the downside move.
2. If it trades higher then a level will be confirmed but preceded by a break of the channel support.
I'm monitoring for a short term opportunity.
For more high quality insights and real-time trading ideas, get in touch today.
Penerbitan berkaitan
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.
Penerbitan berkaitan
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.