This post will be focused on Acadia Pharmaceuticals , a company focused on treatment for Parkinson’s disease psychosis.
ACAD Just recently touched what has been its level of support since end of April. From there ACAD jumped roughly 7% in what seems to be a strong uptrend even after a missing their quarterly earnings target.
ACAD has touched resistance roughly 7 times in the past month and a half.
As long as nothing dramatic occurs to Acadia Pharmaceuticals, there is a good possibility of ACAD will continue towards resistance. This would be a roughly 12% gain.
Locating support and resistance lines may be one of the best techniques to use when analyzing a stock. It can often be a good indicator of where breakthroughs may occur as well as whether to long or short.
Please let me know if you have any feedback or if there is anything I missed out. I appreciate the feedback.