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Analysis: #NASDAQ $RIGL

Case 379 #Rigel_Pharmaceuticals Inc.

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

#RIGL 1/4
Chart 1
Monthly Chart: A new all time low of 1.36 seen in Mar. 2020 and price has bounced up strongly, stalling at the 2009 #pivot 5.23 - a lot of work is needed to remove the #bearishness. The #SMA 200 is .....

RIGL 2/4
..... at 8.21 with strong pivot resistances seen at 9.30 then 12.12 - a close above the latter targets strong #resistance at 18.66/89 quickly.

RIGL 3/4
Chart 2
Daily Chart: Price is moving lower attempting to fill Monday's (July 13) gap. The 6 year #trendline support is sloping at 1.21.

The #Strategy is printed on the image.

$RIGL 4/4
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