Looking at a short on NVTA- Here's why
Hello TradingView!
I'm Fomo Sapien, a 13 year old trader focusing on stock swing trades.
Today, I'd like to share a stock I've been keeping an eye on for a bit- NVTA (Invitae Corp).
I found this stock using the Finviz stock screener.
I'm looking to short NVTA because of the technical chart- I want to make it clear that I do not and have not done fundamental analysis on this stock beside a bare minimum google search.
Anyway, let's talk about the chart.
As you can see from the visual, I'm looking to short right around this level (2.08), and I want to short due to the recent consolidation into s/r and ema resistance. If I enter the trade, I will be updating this post with my target(s) and stop loss.
Earning are expected on August 9th, with an analyst estimate of a 76 cent loss per share. While this further confirms my short idea, I would plan to exit the trade before earnings regardless- although I am open to a re-entry if the setup doesn't change afterwards.
The current price is $2.07 so, following this idea, you could short at the open. Remember I have not entered the trade and this post is more of a heads up- as previously mentioned I'll post an update below if/when I enter the trade.
Happy Trading!
Fomo
I'm Fomo Sapien, a 13 year old trader focusing on stock swing trades.
Today, I'd like to share a stock I've been keeping an eye on for a bit- NVTA (Invitae Corp).
I found this stock using the Finviz stock screener.
I'm looking to short NVTA because of the technical chart- I want to make it clear that I do not and have not done fundamental analysis on this stock beside a bare minimum google search.
Anyway, let's talk about the chart.
As you can see from the visual, I'm looking to short right around this level (2.08), and I want to short due to the recent consolidation into s/r and ema resistance. If I enter the trade, I will be updating this post with my target(s) and stop loss.
Earning are expected on August 9th, with an analyst estimate of a 76 cent loss per share. While this further confirms my short idea, I would plan to exit the trade before earnings regardless- although I am open to a re-entry if the setup doesn't change afterwards.
The current price is $2.07 so, following this idea, you could short at the open. Remember I have not entered the trade and this post is more of a heads up- as previously mentioned I'll post an update below if/when I enter the trade.
Happy Trading!
Fomo
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