Below is an analysis of the stock price action for Trevi Therapeutics (TRVI). You can find a recap table at the end of the page. The content on this page is not financial advice, but is for educational purposes only and merely cites our own personal opinions. You can find the full disclaimer here.
Trevi Therapeutics (TRVI)
TRVI gapped up today on positive news, breaking the recent down trend. It reached a premarket high of 2.95 after a near parabolic move right after the news was realized. Then it had a consolidation near 2.75, but with decreasing volume and RSI, it broke down past VWAP to 2.5. It had a slower open and test the 2.75 level twice but ultimately failed to move further both times. The second time was on lower volume and decreasing RSI so a retracement was likely. It faded to 2.15 then grinded all the way back up to the 2.75. I think once it got back up to the 2.45 level, might have been a good entry for the retest of 2.75. The break of 2.45 was an indicator of change in character. It made 2 attempts at breaking 2.75, but saw the same pattern as in the morning. It then faded, broke VWAP and is now at the 2.40 level in after hours. I think if it can get above 2.50 then it might be interesting to watch for a squeeze over 2.75. Otherwise a break down past 2.30 might led to another consolidation period.
|Shares: 25-50milIndustry: PharmaceuticalsCatalyst: Positive Company NewsATR: 0.25 - 0.50Time Frame: 1 MinuteResistance: 3Squeeze Level: 2.7Support: 2.3|