BioLineRx Ltd.
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BLRX Weekly Analysis: Falling Wedge + Monthly Bullish Divergence

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Analyzing BLRX on the weekly timeframe, the stock is showing a classic falling wedge pattern, a bullish reversal formation.

• Key Support: Holding strong at the $.40 level.

• Target: $1.00 +, Near strong resistance level.

SL: $.35 & $.31


Why This Chart is Interesting:


1. Bullish Divergence: Monthly timeframe shows momentum weakening on the downside. Oscillator divergence signal a possible trend reversal.

2. Volume Decline: Typical of a falling wedge, volume is decreasing, signaling accumulation before a potential breakout.


Watch for:

• Breakout Confirmation: Close above the descending trendline with strong volume.


Let me know your thoughts—bullish or bearish? Are you watching this potential move? 🚀



#BLRX #TechnicalAnalysis #StockMarket
İşlem kapandı: durdurma seviyesi
I am not closing the trade here, but for the purpose of this post it is closed. I believe this to be an overreaction, typical of bio companies. Averaged down, targets remain. Gaps to fill now at .50.

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.