NBIX finds buyers again around 118.15
Neurocrine Bioscienc (NBIX) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
NBIX ended the week 2.11% higher at 118.46 after losing $0.90 (-0.75%) today. Trading $2.24 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Thursday's low at 118.49, the share confirms its breakout through the prior session's low having traded $0.34 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.
Daily Candlestick Chart (NBIX as at Aug 10, 2018):
Friday's trading range was $2.68 (2.26%), that's slightly below last trading month's daily average range of $3.86. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being way above average.
Prices are trading close to a key support level at 117.91. After having been unable to move lower than 118.49 in the previous session, Neurocrine Bioscienc found buyers again around the same price level today at 118.15.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying could speed up should prices move above the nearby swing high at 120.90 where further buy stops might get activated.