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We are seeing quite some volatility in BSLN, market participants are very anxious and on top is this particular stock no that liquid. Bottom line, stock had lost almost 13% after my first call, rebounded and is now trading around 91.95. Technically BSLN has still some downside, but some warnings in short term charts have occured and I hereby take the step and suggest to close the position at current levels (91.95, total performance +4.12%).
In the meantime, I wish you all an excellent weekend!
BSLN proceeds its downtrend and is currently trading within the first gap range – in numbers: decline of over 11% (currently at 85.25) since my call.
We may see some congestion around 86.50 and 82.15 (first gap) before BSLN declines further onto 75-ish – so stay short!
In the meantime, happy trading 🙂
We have a head and shoulders formation in BSLN (Basilea Pharmaceutica) – neckline (blue line) validty is confirmed and stock proceeds its down move accordingly.
Moreover, two gaps got to be closed which are within target range.
Therefore, I recommend to short BSLN (buy puts, short cfd’s) at current levels (95.90).
Target Limit 75.30
Protective Stop 106.00
Trade horizon <3 months