Pacific Biosciences of California, Inc. - positive divergence

8 ก.ค. 2024

On the 5 day chart price action has corrected 90% since closing the previous idea (below) on June 21st 2023 after a 200% rally. A number of reasons now exist to consider a new long position now that the short is closed.

1) RSI resistance breakout and backtest confirmation.

2) Strong regular bullish divergence. Look left.

3) Monthly support. See below.

4) No shares splits since last publication when trading at $14

5) Percentage of Shares Shorted 20.04%. That comes after a 98% correction. My goodness.

Is it possible price action continues correcting after a 90% correction? Sure, sellers and short sellers alike know what their doing.

Is it probable? No.
Ww



Type: Trade
Risk: <= 6%
Timeframe for long: this month
Return: For elsewhere
Stop loss: For elsewhere


Previous long idea

Monthly chart support

11 ก.ค. 2024

การซื้อขายยังคงดำเนินอยู่

Did you miss out on the QURE trade?

16 ก.ค. 2024

บันทึก

50% in 4 days ;-)

15 ส.ค. 2024

การซื้อขายยังคงดำเนินอยู่

support confirmed

23 ส.ค. 2024

การซื้อขายยังคงดำเนินอยู่

Expect a move to $2 soonish, the next resistance.

11 ต.ค. 2024

การซื้อขายยังคงดำเนินอยู่

Did you take advantage of the recent panic?
The next wave will not disappoint, see weekly chart.