BLRX had a strong rally today and it's just getting started.In the related idea my price target was $1.34.
Today's high was $1.78
Check out the weekly chart:
Photo Finish.
$1.34 was 1.618 extension level from Waves 1 & 2.
Since the price-action broke $1.34 we will have an extended 3rd wave.
I expect a very strong rally tomorrow, I will update in the morning before the open to confirm.
Target is hard to predict since its impossible to know what level extending waves will terminate.
I will keep a close eye on the price-action.
Will update.
-AB
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As expected, a very strong rally today!Note
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We got a big runway...Note
Reminder this is a WEEKLY chart...Meaning this move is far from over...
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Buckle up!Note
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Target $2.24 (Sell Half)Trade Price: 1.049
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Bull FlagNote
BLRX will rally again tomorrow.Note
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BLRX is about to rally again...Note
BLRX continued to consolidate today.Staying the course...
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Near-Term Target: $2.13Note
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Primary Wave 1 CompleteNote
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03:21 PM EDT, 10/22/2018 (MT Newswires) -- Oppenheimer has kept its outperform rating on BioLineRx (BLRX) with a price target of $3, betting on BL-8040's commercial opportunity as a stem cell mobilizer after top-line data from the COMBAT/KEYNOTE-202 trial of BL-8040 in combination with pembrolizumab in advanced pancreatic cancer showed modest response rate."Given the combination's favorable safety profile, BioLineRx and Merck (MRK) are testing a triplet combination including chemotherapy in an effort to increase response rate," analyst Mark Breidenbach said in a note.
"While we believe the triplet combination is worth testing, our valuation of BioLineRx still remains focused on BL-8040's commercial opportunity as a stem cell mobilizer."
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Breakout ImminentNote
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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.