September 20 Chart of the Day - Arrowhead Pharmaceuticals

Precision oriented price action technical analysis by far provides the best edges and most setups for traders and investors across the markets so that's what we use for the basis of our reviews

Arrowhead Pharmaceuticals, Inc. (ARWR) is a biotech company that develops and commercializes gene silencing therapeutics.

The US Food and Drug Administration (FDA) recently granted breakthrough therapy designation to Arrowhead's plozasiran, an investigational RNA interference (RNAi) therapeutic.

Plozasiran is intended for use as an adjunct to diet to cut down triglycerides in adults with familial chylomicronemia syndrome (FCS), a rare genetic disease.

Based on this we wanted to review their chart from a price action technical analysis perspective.

We have featured over 275 Charts of the Day since May 2023 and teach Price Action Technical Analysis Trading for FREE  to traders who join our Highly Rated Trade Room.

Monthly Chart 

On the monthly chart we can see that after setting its $162.50 all time high (ATH) back in the last 1990s price fell dramatically over the next few decades all the way down to the $1.20 back in 2016.

Since then price has been on a wild ride (not so unusual for a pharmaceutical company) racing up to $73, back down to $19, back up to $92, and back down to $19 yet again.  

So does this mean that $73 or $92 would be up next again?!?!

Weekly Chart

On the weekly charts we can see with much more clarity the extreme volatility and fall from $92.  This area on the chart is not the last chance for the bulls to step in however, they have around this level multiple times in the past.

Trading around $20.90 earlier today price may be attempting to establish its last lower low but if it does price will need to pretty much hold and rise from the area it's currently in.

Technically speaking, much lower is a possibility.

Only time will tell for sure what price will do next...

We've layered in traditional Fibonacci levels as well as support/resistance and trend to help identify potential price levels of interest and/or future price targets.

Armed with precision oriented charts like these both traders and investors can formulate their respective plans. 

So what's next?