MTCR, Range play , Technical Long

Here is a technical based long on a range play I decided to enter today. Fairly new bio tech ipo .Although this is mainly technical based logic, I also see that the institutional holders make up 62.8% of float with a 20% increase in the last three months, which certainly doesn't hurt . Also being a new ipo they have plenty of cash per share at this time . I like the risk vs reward and will trade this as a swing .

Good luck ~