RVMD – Revolution Medicines, Inc.
Two islands for the price of one?
RVMD – Revolution Medicines, Inc.
Date:24 June 2026
Sector:Health Technology / Biotechnology
Exchange: NASDAQ
TradingView link: 1M candles & 4H candles:
Opening/macro/sector context
Revolution Medicines, Inc. is a clinical-stage precision oncology company that is developing targeted therapies - Trading View
In simple terms, this is a company working on targeted treatments to help people live longer with certain types of cancer.
So this is very much a biotech and oncology story, rather than a wider macro or industrial theme.
Long-term structure
The stock initially floated at around $29 back in February 2020.
After floating, Revolution Medicines moved sideways for a long period, all the way through to November 2025.
During that period, the stock traded between roughly $62 on the top side and $13 on the lower side.
After that, the stock finally moved out of the pink box.
Once it broke out, it moved higher in a fairly steady fashion before then shooting up to a peak around $124.
After that strong move, the stock came back down and formed an island, which I have marked out with the second pink box.
It then jumped higher again and formed a second island.
Lower timeframe / recent structure
This is where the structure becomes particularly interesting.
The last two pink boxes show the two islands in a little more detail, better seen on the 4H chart.
To see two island-type structures form like this is pretty rare.
Of course, this could have been caused by a news-related event, especially given the nature of biotech stocks.
The first island was marked out between 20 January 2026 and 13 April 2026.
During that period, the stock continued to bounce around those levels, but importantly, it held structure.
Whatever triggered the price drop, there was only so far sellers could push it before buyers stepped back in.
The key floor was around $90.46.
After that, Revolution Medicines punched higher and formed a second island.
This higher island was technically a higher high because the price had moved above the stock's previous all-time high.
Again, we have seen a pattern similar to that of the previous island.
The stock moved higher, gapped up, and then started consolidating at a higher level.
The current island has traded between roughly $126.79 and $169.51.
At the moment, it appears that Revolution Medicines may be preparing to continue moving out to fresh all-time highs.
As of yesterday, the stock has already formed one close outside of the pink box.
Entry trigger:
Usual entry trigger is one of two things:
Three clean closes above the last breakout of the pink box.
A breakout of the pink box, followed by a pullback to touch the top of the box, and then a move higher.
For RVMD specifically, we currently have one close to the outside of the pink box.
Ideally, I would want to see further confirmation that the price can remain above the box before treating this as a confirmed breakout.
Initial stop loss:
Last 4-hour swing low.
Multi-timeframe correlation:
3M: Blue candle
1M: Blue candle
1W: Blue candle
1D: Blue candle
4H: Blue candle
When should I tighten the stop-loss?
Tighten the stop-loss as new 4-hour swing lows form and the stock continues to move higher.
When do I add to the position?
The best way to add to the position is on a pullback from a yellow-to-blue candle or a grey-to-blue candle, as price starts to move back up and attempts to break out again.
Potential target range:
$172 – $194
Activated price targets:
3
Am I in this trade?
No
Current R multiple:
0R