Nektar Therapeutics- Looking For Longs Out Of These Levels
Friends,
A nice little long setting up. We have a number of factors making this long a reliable one (Providing the further criteria required is filled.)
This is the situation so far:
1. We have hit a level of historical zone of support, and a sideways dynamic support level as well.
2. We saw a Doji, and a bullish kicker signal off the Doji signal. Which is very bullish.
3. We have long term bullish divergence of the Stochastic (And the ACC/DIS, but didn't publish that with this idea)
4. We have hit a strong Fibonacci confluence zone, where we would expect a reversal off of.
Step 5.
We want to see follow through buying, it's particularly important for safe buying that the level of 11.20's and 11.30's are clearly broken so we know the bulls are looking to make positions in this stock and bring the price up.
Step 6.
We should expect a gap from this level ideally to show pre market enthusiasm. But also just to show people people are generally participating in bullish buying, supporting our buying decision. We don't want to see weak buying if we're looking for a price move. We want to see strong proof that there's enthusiasm in any stock that we decide to buy at anytime.
Thanks all.
Tom
A nice little long setting up. We have a number of factors making this long a reliable one (Providing the further criteria required is filled.)
This is the situation so far:
1. We have hit a level of historical zone of support, and a sideways dynamic support level as well.
2. We saw a Doji, and a bullish kicker signal off the Doji signal. Which is very bullish.
3. We have long term bullish divergence of the Stochastic (And the ACC/DIS, but didn't publish that with this idea)
4. We have hit a strong Fibonacci confluence zone, where we would expect a reversal off of.
Step 5.
We want to see follow through buying, it's particularly important for safe buying that the level of 11.20's and 11.30's are clearly broken so we know the bulls are looking to make positions in this stock and bring the price up.
Step 6.
We should expect a gap from this level ideally to show pre market enthusiasm. But also just to show people people are generally participating in bullish buying, supporting our buying decision. We don't want to see weak buying if we're looking for a price move. We want to see strong proof that there's enthusiasm in any stock that we decide to buy at anytime.
Thanks all.
Tom