Viking Therapeutics (VKTX): 30-40%+ Long Trade Opportunity
VKTX has suffered a 10%+ decline today and I believe that there is a great long trade setup forming in the buy zone (between the two light blue trendlines). The price action is still bearish at the time of writing so I would monitor the charts for a reversal on lower time frames.
However, this will be a quick trade setup for me with an exit at my sell zone between the two yellow trendlines.
I believe that this will be a 30-40% trade opportunity depending on where VKTX bottoms out and peaks in these two key zones.
I'm seeing a lot of bullish technical analysis signs. The two most notable are the RSI reaching oversold levels and a break below the Bollinger Band.
However, I do think that VKTX has a high risk of dropping hard after reaching the yellow trendline so I'm looking to make this a quick trade.
However, this will be a quick trade setup for me with an exit at my sell zone between the two yellow trendlines.
I believe that this will be a 30-40% trade opportunity depending on where VKTX bottoms out and peaks in these two key zones.
I'm seeing a lot of bullish technical analysis signs. The two most notable are the RSI reaching oversold levels and a break below the Bollinger Band.
However, I do think that VKTX has a high risk of dropping hard after reaching the yellow trendline so I'm looking to make this a quick trade.
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