The High Tight Flag Pattern is a rare one according to Investors Business Daily; “This vertical-looking pattern forms as a stock surges 100% to 120% in four to eight weeks. The stock then corrects just 10% to 25% in price for only three to five weeks. The ideal buy point is the high of the flag plus 10 cents”. LINK.
$PRQR fits a somewhat loose definition of a high tight flag pattern, and I believe you have to cut it some slack due to the market being under pressure. The stock ran up 175% at the beginning of September, and it has held onto a bulk of its gains while the market has been under severe pressure.
$PRQR deserves a spot on your watchlist; I believe that with any respite in the market $PRQR will lift off. For me, there’s a trade to be had if and only if it can break thru yesterday’s high (19.78) with a stop at 17.90.
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