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Fan Yang

uniQure (QURE) in a Sharp Pullback; Anticipating Key Support Around$44 and $35

uniQure $QURE has been in a sharp pullback since surging to around $82 in June. Price has retreated to the $44.50 area to close the week. 

QURE Daily Chart

(click to enlarge)

Pullback vs. Support:
- On the daily chart, we can see that price is falling sharply with strong volume.
- Last week, price broke below a key support around $50-$52, which involved the previous 2019-low.  
- There is a possible support around $40-$44 because this was a previous resistance area. 
- Furthermore, if you look at the weekly chart, the RSI is around 40. In a bullish market, the RSI will likely hold above 40.
- But with such bearish momentum, QURE investors might get panicky and the bearish swing might extend lower.
- If so, the next critical support will be around $35-$36.
- This area involves a previous resistance pivot, and potentially a rising trendline.

QURE Weekly Chart

(click to enlarge)

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