Acadia Triangle

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This morning’s big hit for me is Acadia Pharmaceuticals. I’ve been tracking this one forever, since it’s got a gorgeous symmetric triangle pattern. I shorted it yesterday as it approached its midline, and this morning, blammo, it’s down 16%.

slopechart_ACAD (1)

A closer view shows the clean pattern and how its broken below the triangle now. I’ve tightened my stop to just above the day’s high and intend to hang on to this one.