-ALLO has broken out of a falling wedge consolidation
-Breakout occurred after finding support at the 61.8% retracement of move off the March low and 100% of the A move lower (which appear to agree on the $31 range), and the $33.5-35.5 area that acted as resistance on 5 prior occasions
-Breakout occurred after finding support at the 61.8% retracement of move off the March low and 100% of the A move lower (which appear to agree on the $31 range), and the $33.5-35.5 area that acted as resistance on 5 prior occasions
Note
Nice move here. IMO biotech sector is just getting started, XBI still trades well below the all time XBI/SPY highs
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.