EDIT - Bullish bounce off triple support, in a strong uptrend

27 thg 7, 2020

EDIT has formed a short-term, very steep rising channel, within a bigger, much more sustainable, multi-year rising channel. Call me crazy, but I think this one is going to do well... Right now, price is acting well at triple support: not just the aforementioned short-term rising channel, but also a former falling resistance, and the all-important 50 day MA (both in dark blue). If you switch the chart to daily candles, you'll see a long-legged morning star doji formed on friday at triple support, and today we're gapping up... If all this doesn't convince you to go long EDIT, I guess nothing will, so I rest my case.

Full disclosure: long EDIT at 1.6% of total assets. Itching to buy more, even if I should not concentrate too much on a small cap biotech stock with no earnings (yet). But technicals AND fundamentals are fantastic, so I may just grab a little more.