Will the trend hold?Back in late 2014 Genmab broke out and haven't looked back since, though it have seen many downturns on the way, as we can see it has been through 4 big downturns of 25%+ drops. Another one could be in motion, a weekly bearish engulfing candle has formed and we have seen it drop 15% and is now back testing the former resistance and is about to test the bottom support trendline . If it doesn't hold we could likely see another 15% drop back to 1228 kr .
GMAB trade ideas
A cup of tea goes a long way
Weekly cup & Handle
Since making new highs, there have been a slight pull back but the trendline stays intact and it remains in an uptrend.
The trend is strong high above 50 week MA and preparing for a possible breakout to new highs.
Don't fight the trend.
Don't be scared of new highs.
Catalyst 2020:
Cervical Cancer Phase 2 data due 1H
DARZALEX ENHANCE PDUFA estimate 12 MAY
Price target:
29 of January; Dutch Kempen & Co raised their PT to 1750 DKK from 1700 DKK
Will it follow the trend channel.Trend channel started in Nov 2018 and have been holding the channel for over 1 year
Will it keep going?
Still a up trend
holding the channel
50 ma holding more then nicely
support/resistens at 1453 ish
just hit the low of the channel
my signals say buy, so here is my idea.
Open trade at :1475
Set my TP at :1715
Set my SL at :1445 (if there should come a down spike at the resistens at the last caddelstick)
( this is just my point of view and should not be taken as a buy or sell indicator for you - remember always to do your own analyse )
100 point drop ahead?GMAB
We are here again, fifth time we hit the upper band of the paralell ascending trend channel, the prior 4 times it made a spinning top and bearish engulfing before heading down. That's pretty much what we can see again, spinning top followed by bearish engulfing.
GMAB, recently broke out of the big overhead resistance from the former triple top, which was formed in 2017. It would be likely that GMAB takes a breather after 8 weeks of green and a bit overextended. It could take a small dive and revisit 1485 and enjoy the view from the former top and bounce back from there.