Last Updated on July 19, 2019 by Kevin Douglass
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#IMMU look at Risk vs. Reward #Volatilitywatch by follow_the_money on TradingView.com
Immunomedics Inc. (Nasdaq: IMMU) brings opportunity for investors looking for a company with great fundamentals and nice risk/reward potential into end of year. As the chart shows (blue arrows) I am awaiting a buying opportunity around the blue trend line. and potential test of $20 by end of year.
From current stock price, potential risk/reward around 3.5 : 1.
Downside risk: $1.39
Upside reward: $3.50-$5
- Recent selloff after earnings showed strong support at the $11.59 level, which also made a double bottom.
- This selloff started around July, 2018. to emphasize the double bottom even more, the pullback from peak to trough retraced .618; a key level of Fibonacci support.
- MACD indicator showing strong convergence with price.
- Price above 20 day moving average.
- 5-day exponential moving average above 20 day moving average, indicating strength in trend.
Conclusion: $IMMU seems to bring opportunistic risk/ reward to investors who are sidelined. Double bottoms are significant patterns when looking for price reversal.
Tip # 11: Some investors wait to buy until after stock price crosses above moving averages such as the 20, 50, 100, and 200 day. These are key phycological levels to watch when trading and investing.
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Disclosure: I do not own IMMU. This is not a note to buy or sell. Please do your homework before investing.