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Viking Therapeutics (VKTX) is Presenting a 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.

TradingView Chart:
https://www.tradingview.com/chart/VKTX/l7aORymG-Viking-Therapeutics-VKTX-30-40-Long-Trade-Opportunity/?social_toast=true

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John_
6 months ago

What is your estimated time frame you believe this may break through the yellow lines? Will buying options be safer and a risk a small option premium?

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