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AtoHoward

VNDA Descending Triangle Pattern. Short (and Long) Opportunity.

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA)  
AtoHoward  
NASDAQ:VNDA   Vanda Pharmaceuticals Inc.
trendfollowing trend Harmonic Patterns easy earningsplay highprobability bearishtrend long-term shorttermbull longtermshort
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trendfollowing trend harmonicpatterns easy earningsplay highprobability bearishtrend long-term shorttermbull longtermshort
Simple probability set up. Triangle downtrend started in 11/2016 and VNDA has only been through one full harmonic trend (wave) ever since. Second wave downward move imminent with RSI confirmation @ 35 and bearish $13 target.

However, aggressive long entry for quick profit ($15 bullish target) especially with upcoming earnings. Upon $15 target, (expected RSI >50) short for mid-term trend follow.

Quick Long Target: $15
First Short Target: $13
Second Short Target: $11.50

Total trade should complete by/in April.

Idea Berkaitan

AtoHoward
CHK Ascending Triangle Pattern
Penafian

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