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Analysis: #Cboe BZX $AXSM

Case 57 #Axsome Therapeutics Inc

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

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#AXSM 1/4
Selling pressure during Sept - Oct was completely absorbed at monthly #pivot support around 14.20. Since then price has gone #parabolic recording new all time highs in the process.

AXSM 2/4
Chart 1
Weekly Chart: The current #resistance zone is in a $10 area 38-48. SMAs 20 and 50 supporting the current up move. An unfilled gap (5.76- 2.88) is far away the current price.

AXSM 3/4
Chart 2
Daily Chart: Upside parabolic moves are not always reliable and 4 years of data makes this more problematic, we might actually see price drift back towards the 20.80 area or close to the #SMA 200.

The #Strategy is printed on the image.

$AXSM 4/4
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