Don’t Miss This Trade in uniQure NV (QURE)

A key support level has formed in the chart of uniQure NV (QURE).  A trade below this level could cause a breakdown in the stock.

QURE is a gene therapy company. It develops treatment for patients suffering from genetic and other devastating diseases. The company just started clinical trials of a gene therapy for Huntington’s disease. If the gene therapy succeeds, it could mean a $7 billion annual market for QURE.

Take a look at the 1-year chart of QURE with the added notations:

Chart of QURE provided by TradingView

During the course of the past year, QURE has repeatedly tested the $37 area (green). Just last week the stock traded near this key level, only to bounce higher.

If the stock were to break below $37, it is expected a breakdown would occur, leading to much lower prices.  Therefore, a trader could enter a short position if the $37 support level is crossed.

Want to Discover More Great Trades?

I have explored virtually every flavor of technical analysis and chart pattern known to mankind. The sad fact is that the vast majority of them don’t work at all.

That is why I recently put together this special report to help investors focus on the only 5 chart patterns that matter…the ones that lead to the most timely and profitable stock trades. Click below to get your copy now!

5 WINNING Stock Chart Patterns

Have a good trading day!

Good luck!

Christian Tharp, CMT

@cmtstockcoach

QURE shares were trading at $40.25 per share on Wednesday morning, up $0.21 (+0.52%). Year-to-date, QURE has declined -43.83%, versus a 5.97% rise in the benchmark S&P 500 index during the same period.

Christian is an expert stock market coach at the Adam Mesh Trading Group who has mentored more than 4,000 traders and investors. He is a professional technical analyst that is a certified Chartered Market Technician (CMT), which is a designation awarded by the CMT Association. Christian is also the author of the daily online newsletter Todays Big Stock.

More...