ETrades1
Long

EYEG Wedge Breakout + MACD Cross

NASDAQ:EYEG   EYEGATE PHARMACEUTICALS INC
Price consolidating atop the 200 SMA , and recently the 50 SMA . MACD bull cross, and RSI finding strong support on top of the 50 EMA of the RSI convey upside momentum bias (I find the 50 EMA on the 14 RSI to be very informative, I recommend you try it for yourself). I am looking for price to stay supported by 5 day SMA and I will look to buy the wedge breakout to the upside. The $4.80 level that has been local support is also a . 786 retracement of the move off the Aug '19 lows to the Dec '19 highs. As usual, try to get in on the post breakout pullback but if volume is strong I'll probably just jump in. Minimum target is $6.50, an area I think is key resistance although the measured target given the size of the wedge is +$8.00.
Comment: Still keeping an eye on this one, needs to break $5.75 for me to consider an entry

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