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

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أغلقت الصفقة: تم الوصول لوقف الخسارة

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.