Long
BLUE- a biotechnology earnings penny stock LONG
BLUE a week ago had a bull run to gain 90% in 5 days and then reversed into a standard
Fibonacci retracement on the 30-minute chart, then in consolidation for a day or two getting
support from the mean anchored VWAP. The last trading day was a quick rise with momentum
in a bull flag. Earnings are coming. I will take another long trade on BLU into earnings. My
target is 1.90 about the high of the prior trend up and below the second VWAP line above
the mean. A tight stop loss at 1.53 ( below the flag's consolidation) will make it more likely the
trade will be a 20% winner. I have taken call options strikng $1.50 for March 15th for $20 each.
or a small loss of 2-3%
Fibonacci retracement on the 30-minute chart, then in consolidation for a day or two getting
support from the mean anchored VWAP. The last trading day was a quick rise with momentum
in a bull flag. Earnings are coming. I will take another long trade on BLU into earnings. My
target is 1.90 about the high of the prior trend up and below the second VWAP line above
the mean. A tight stop loss at 1.53 ( below the flag's consolidation) will make it more likely the
trade will be a 20% winner. I have taken call options strikng $1.50 for March 15th for $20 each.
or a small loss of 2-3%
Trade active
On a higher time frame with the chart set at weekly, BLUE appears to be in a fallingwedge pattern with price currently near to and rising from the support trendline.
Trade active
Added 25% after a drop awaiting the general market to move higher from the downturn.
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Disclaimer
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.