This Is Why You Should Monitor A Huge Gap Down Closely
An extremely oversold situation was
created this morning right at the open. I am talking about Biogen
Idec (BIIB). The company announced a voluntary suspension of Tysabri , a
treatment for multiple sclerosis, from commercial distribution.
09:35:13 (From TradersWire)
Action |
Symbol |
Order Type |
Setup |
Stop |
Target |
Current Price |
Posted By |
| Buy |
BIIB | market | huge gap down |
37.00 | 38.50 | 37.25 | Brice |
Brice, Editor-in-Chief, knew the gap was ridiculously
too big. The stock had to bounce sooner or later. To time the proper long entry,
Brice monitored the 1-minite chart closely. After three consecutive down bars,
BIIB finally formed an up bar. This was a potential
Trap Door. As soon as this up bar’s high was taken out, he bought the stock
at the market.
T.Kamada
If you have questions on this setup, you can send e-mails directly to
Brice.