Recent Trading Recommendation to Premium Members $WVE #trading #stocks

Wave Life Sciences was one of the most recent trade recommendations from TTP Trading’s Greg Krupinski. From an entry price of $41.50 on Tuesday, the stock closed at $54.70 on Friday for gains of 30% in only four days. Greg recommended members take profits on half those shares Friday afternoon. Here is the actual alert that went out Tuesday to members…

I’m buying WVE here at market (41.50). I’m taking a HALF POSITION here.  This is a biotech stock and these can be volatile.  Stop around $37 and targeting over $50.  Here’s the beautiful weekly chart showing a cup and handle pattern.  The measured move of this pattern, suggests a move to over $60.  This is measured by taking the distance from the base of the pattern to the horizontal breakout level highlighted in yellow.  This is then added to the breakout area price.  These measured move calculations are helpful but remember nothing is guaranteed and I typically target a little more conservatively with the swing portion of my trade.  The key here, or any chart pattern, is we had an area that acted as resistance and price broke through.  This is a key development.  For WVE, I’m hoping for some quick follow-through to better confirm the breakout.  Here’s the weekly chart:

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