PLRX - Looking for a push off of $18
Most recent news from 2 days ago - finance.yahoo.com/news/pliant-therapeutics-receives-fda-fast-120000273.html
Technical look out:
- Looking for MACD to bounce up as it diverges
- RSI cooling off from the overbought zone so we can potentially expect some volume soon
- Price although has shown bear candles on the daily, it has consolidated fairly well considering the last spike from the news of --> finance.yahoo.com/news/pliant-therapeutics-inc-plrx-stock-083508031.html
Price action:
- Trading and consolidating within the July 14th candle. My price support is based off of this candle and a bounce up or break below it will dictate whether an entry takes place or not.
- If a proper bounce occurs I can see a conservative 5% within my radar or stretch to 15% on the top end. As per usual my trading strategy is to scale and secure profits so if momentum persist, I will hold past the 15% marker.
More news could help this one out in the coming weeks with earnings also only a few weeks away
Technical look out:
- Looking for MACD to bounce up as it diverges
- RSI cooling off from the overbought zone so we can potentially expect some volume soon
- Price although has shown bear candles on the daily, it has consolidated fairly well considering the last spike from the news of --> finance.yahoo.com/news/pliant-therapeutics-inc-plrx-stock-083508031.html
Price action:
- Trading and consolidating within the July 14th candle. My price support is based off of this candle and a bounce up or break below it will dictate whether an entry takes place or not.
- If a proper bounce occurs I can see a conservative 5% within my radar or stretch to 15% on the top end. As per usual my trading strategy is to scale and secure profits so if momentum persist, I will hold past the 15% marker.
More news could help this one out in the coming weeks with earnings also only a few weeks away
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