I just want to quickly highlight to you once again the importance of mid
points. Note on acu how the stock went sideways around the mid point of
the previous run, oscillating pretty much between the fibonacci points.
This is common. The stock then broke upwards exactly from the mid
point, out of a triangle type shape. No news as yet, but would you say
there is some coming ???. Since no news, the buy is still on. Any
break into all time highs even more bullish, then you could measure the
repeat run on the weekly range for the next high. Should we get a new
all time high, watch for the Feb high to become a mid point itself.
Even if you don't trade it, watch it, as this is the best way to learn a
bit about what Gann had to say about price measurement.
Again, even if you missed the February run, always put such new highs
into your watch list, and continue watching, continue measuring, and be
alert for mid points - especially volatile biotech stocks i believe.
Looks to me as though this sector may again be coming to life after
recent heavy sell off. Keep an eye on the sector.
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