ARCT fell a whopping 66% the past 2 days. The catalyst was the inability of its COVID vaccine to produce levels of antibodies comparable to other vaccines in development or already developed. You can check more here: investors.com/news/technology/arct-stock-crumbles-underwhelming-coronavirus-vaccine-update/
It found support around $41.5 and moved about 12% to the upside to only fall again. It is currently hovering over the $44.3 support level.
There is not much hope for a big rally to the upside on this stock unless they improve their vaccine. However, there might be a quick swing trade opportunity. Yesterday I bought the support at $41.5 and waited for a bounce, which happened today. I sold for a quick 10% profit. I am looking into entering again if it retraces to that level. If I enter, I will place a stop loss just below the wick of the big red candle that formed after the gap down, at around $39.5.
If this trade plays out well my upside targets are $47.5 and $50 (long term support/resistance levels).
***THE IDEAS SHARED HERE ARE MY OPINION. THIS IS NOT FINANCIAL ADVISE TO PLACE TRADES. PLEASE DO YOUR OWN RESEARCH AND ANALYSIS BEFORE BUYING/SELLING STOCKS.***
It found support around $41.5 and moved about 12% to the upside to only fall again. It is currently hovering over the $44.3 support level.
There is not much hope for a big rally to the upside on this stock unless they improve their vaccine. However, there might be a quick swing trade opportunity. Yesterday I bought the support at $41.5 and waited for a bounce, which happened today. I sold for a quick 10% profit. I am looking into entering again if it retraces to that level. If I enter, I will place a stop loss just below the wick of the big red candle that formed after the gap down, at around $39.5.
If this trade plays out well my upside targets are $47.5 and $50 (long term support/resistance levels).
***THE IDEAS SHARED HERE ARE MY OPINION. THIS IS NOT FINANCIAL ADVISE TO PLACE TRADES. PLEASE DO YOUR OWN RESEARCH AND ANALYSIS BEFORE BUYING/SELLING STOCKS.***
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.