BELLUS HEALTH INC (BLU) Stock Technical Analysis
NASDAQ:BLU - Nasdaq - CA07987C2040 - Common Stock - Currency: USD
Overall BLU gets a technical rating of 9 out of 10. Both in the recent history as in the last year, BLU has proven to be a steady performer, scoring decent points in every aspect analyzed.
Besides having an excellent technical rating, BLU also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 14.75. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 14.70, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for BLU in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
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14.27
When analyzing the support we notice one important area.
- A support zone ranging from 14.41 to 14.70. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
We found 1 important resistance area.
- A resistance zone ranging from 14.75 to 14.76. This zone is formed by a combination of multiple trend lines in multiple time frames.
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 14.77 | 14.38 | 0.39 (2.64%) | 25.00% |
| An entry @14.77. This is a Buy Stop order right above the resistance zone. | An exit @14.38. This is a Stop Loss order right below the 10 day low. | The trade has a worst case loss of 0.39 points, which is 2.64%. | For a 0.66% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
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