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Stalking uniQure's Pullback after Breakout

Recently, we spotted a sharp breakout in uniQure $QURE. Qure was consolidating around 5-6 earlier in the year, but jumped to 21.35 in October. This week, it has retreated a bit. Let's monitor this pull back.

Qure Daily Chart

(click to enlarge)

- As we can see, the drive up was sharp, so it is not surprise that the pullback is pretty sharp as well. 
- It's also no surprise because this is a small cap pharma.
Support and Upside:
- 15.00 is at the 38.2% fibonacci retracement level and appears to provide some support during the 10/26 session.
- But I think there could be downside as low as 11, around the 61.8% fib retracement level.
- The RSI should not break below 40. 
- Now, if price indeed finds support and rebounds, we might want to limit our upside at this point to a max of 19.50-20. 
- I think after this October pop, QURE will be in a period of consolidation. 
- In this scenario, it might be prudent to implement range trading strategy with a bullish bias.
- This strategy would be to buy-on-a-dip and exit near 19.50-20, or at least scale out.  

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