ALT Reversal Incoming? +Trade Setup (>168% Profit Potential)
Hello Fellow Traders,
Today we are looking at Altimmune Inc (ALT) on the NASDAQ. We can see that on the last bullish wave, prices peaked at around $35. We can see since then a bullish continuation pattern, the falling wedge, has been printed. The price has broken out to the upside, retested the EMAs for support, and bounced back to consolidate just in the $11.75-$12.50 range.W Now, with prices above all EMAs, we can expect additional growth. We can use a larger buy range for this stock because the risk-to-reward is very good. If prices begin an uptrend here, it is a good time to go long. In the long run, a breakout past the ATH of $35 has a Fib target of $52! If you think this is unrealistic, take a look at my last idea on SOLO down below. However, a potential short-mid-term trade set up now could be:
Entry: $11.50-$13.75
Targets: $24.00 (+80%) | $35 (+$1.68%) | $52 (+297%).
Stop loss: daily close below $10.50 (-10%).
Let me know what you guys think down below and leave a like if you appreciate the analysis. Also, check out some of my other ideas and follow my profile for more chart analyses and profitable trade setups! Thanks for reading :)
Price at writing: $12.98
Today we are looking at Altimmune Inc (ALT) on the NASDAQ. We can see that on the last bullish wave, prices peaked at around $35. We can see since then a bullish continuation pattern, the falling wedge, has been printed. The price has broken out to the upside, retested the EMAs for support, and bounced back to consolidate just in the $11.75-$12.50 range.W Now, with prices above all EMAs, we can expect additional growth. We can use a larger buy range for this stock because the risk-to-reward is very good. If prices begin an uptrend here, it is a good time to go long. In the long run, a breakout past the ATH of $35 has a Fib target of $52! If you think this is unrealistic, take a look at my last idea on SOLO down below. However, a potential short-mid-term trade set up now could be:
Entry: $11.50-$13.75
Targets: $24.00 (+80%) | $35 (+$1.68%) | $52 (+297%).
Stop loss: daily close below $10.50 (-10%).
Let me know what you guys think down below and leave a like if you appreciate the analysis. Also, check out some of my other ideas and follow my profile for more chart analyses and profitable trade setups! Thanks for reading :)
Price at writing: $12.98
