Scholar Rock Holding Corporation stock trades under the ticker SRRK, and has recently displayed technical strength that is worth taking a closer look at.
SRRK stock closed for trading at $42.10 on 11/6/2020, after going on a tear since 10/27/2020.
While Scholar Rock Holding Company’s stock does not have options, they are still showing enough strength that it may be worth looking to trade the shares for a short-to-mid-term play.
As a member of the NASDAQ index, SQQQ when ratio’ed properly could be seen as a good hedging opportunity.
SRRK Stock Price: $42.10
10 Day Moving-Average: $38.28
50 Day Moving-Average: $20.28
200 Day Moving-Average: $16.54
RSI: 71
While the RSI is a bit high at the moment, the moving averages suggest that there is still near-term room to run for SRRK stock shares.
Traders might think to see how it functions in the pre-market tomorrow morning, before deciding to hop into a trade here.
Otherwise, given that levels that the moving-averages are at, there seems to be plenty of potential opportunities for dip-buying while the RSI settles down as there is still a lot of upwards pressure, courtesy of the trends.
Traders would be wise to eye the candlesticks while the figure out the entry point that they want to pursue, but SRRK is certainly something worth having on their radar at the moment.
*** I DO NOT OWN SHARES OF SRRK STOCK ***