From a purely technical standpoint it looks like $FLXN will range until October before this ascending triangle converges. Of course the announcement the company getting acquired can make the 11 million + shorts close but if an extraordinary event like that does not happen with the next few months, this stock will break out upwards. If you are want you can trade this range and there may very well be failed signals of false breakouts. Or if you are an investor, it could be a good time to start to DCA your buys now. I expect a violent upside reaction based on the length of this triangle and new highs by November.
Yorum:
Sorry, this is a pennant. I still believe there will be a bullish break on completion of the pattern.
Yorum:
Selling the top of the channel. Buy back in when we approach the bottom.
Yorum:
Nice move to the downside, broke the trend line. I had to redraw new lines but it looks like setting buys at $22.29 would be a good value play at this point in anticipation of a bounce. I would set tight stops as it will retrace fully if support doesn't hold.