Pacific Biosciences of California, Inc. - positive divergence
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
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
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Did you take advantage of the recent panic?
The next wave will not disappoint, see weekly chart.
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
Publikasi terkait
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Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.