Cathie Wood is long BEAM, But I will be Strong Short
#CathieWood
Baught this stock...I analyzed it....and …...well....I would do exact the opposite......
But why?
Technical Analysis
Let forget eveything you know about technical analysis, and let together tell this story....logically..
At
76-71 USD AGGRESSIVE SELLERS FORCED THE PICE DOWN
29,72 USD BUYERS DEFENDED THIS Area(ZONE) as well the sellers took partial profits, and accumulated their positions ,but this time more powerfully and aggressive at 64-61USD zone
THE PRICE MOVED DOWN, Institutional buyers took patial profits,(the best decision they could do OTHERWISE THEY WOULD LOSE ALL THIER PROFITS LOOK AT THE PICE OF TODAY
The retail traders who followed the news and the hype baught Beam hoping that the share prce will fly to the moon,but......
At 64-61 who is waiting there?
YES THE AGGRESSIVE SELLERS!!!!
NOW THEY FORCED MUCH MORE ORDERS TO SEND THE PRICE To the....where we are now....
Bad for the buyers...Some buyers took profits, some took losses, and to compensate thier losses, they started to sell short the market....
At 28,80(YELLOW LINE) we are now at the weak support(low volume) The market could make a retracement to 44,94USD
where the sellers and BEARS are waiting of them.....to do what? Well you know it.....
Otherwise...more selles (former retail trades bulls) could decide to sell the maket from here....
WE HAVE A LONG DISTANCE TO GO DEEPER....
Targets short
13,75
8,68
3,82
1,25
.
.
Wood's flagship ARK Innovation ETF has loaded up in recent weeks on Beam Therapeutics (BEAM 1.11%). The gene-editing stock currently ranks as the ETF's 18th-largest holding. It's also the ninth-largest position in Wood's ARK Genomic Revolution ETF.
Beam Therapeutics is a pioneer in base editing. Most types of gene editing involve double-strand breaks in DNA that can cause random unwanted insertions and deletions. Base editing is highly precise, with no double-strand breaks and no off-target genetic changes. Because of these characteristics, base editing holds tremendous promise as a method for developing therapies targeting genetic diseases and "off the shelf" cell therapies for treating cancer.
So far, Beam has advanced two base-editing candidates into clinical testing. It's evaluating BEAM-101 as a treatment for two rare blood disorders: sickle cell disease and beta-thalassemia. And the company expects to begin dosing patients in a phase 1 study of experimental cancer cell therapy BEAM-201 by mid-2023.
Those two programs could be joined by two others soon. Beam hopes to submit for regulatory approvals to start clinical studies of BEAM-301 as a treatment for glycogen storage disease type 1a and BEAM-302 as a treatment for severe alpha-1 antitrypsin deficiency by early 2024.
The company has a long way to go. But if its base-editing programs prove to be safe and effective, Beam could be a massive winner.
Baught this stock...I analyzed it....and …...well....I would do exact the opposite......
But why?
Technical Analysis
Let forget eveything you know about technical analysis, and let together tell this story....logically..
At
76-71 USD AGGRESSIVE SELLERS FORCED THE PICE DOWN
29,72 USD BUYERS DEFENDED THIS Area(ZONE) as well the sellers took partial profits, and accumulated their positions ,but this time more powerfully and aggressive at 64-61USD zone
THE PRICE MOVED DOWN, Institutional buyers took patial profits,(the best decision they could do OTHERWISE THEY WOULD LOSE ALL THIER PROFITS LOOK AT THE PICE OF TODAY
The retail traders who followed the news and the hype baught Beam hoping that the share prce will fly to the moon,but......
At 64-61 who is waiting there?
YES THE AGGRESSIVE SELLERS!!!!
NOW THEY FORCED MUCH MORE ORDERS TO SEND THE PRICE To the....where we are now....
Bad for the buyers...Some buyers took profits, some took losses, and to compensate thier losses, they started to sell short the market....
At 28,80(YELLOW LINE) we are now at the weak support(low volume) The market could make a retracement to 44,94USD
where the sellers and BEARS are waiting of them.....to do what? Well you know it.....
Otherwise...more selles (former retail trades bulls) could decide to sell the maket from here....
WE HAVE A LONG DISTANCE TO GO DEEPER....
Targets short
13,75
8,68
3,82
1,25
.
.
Wood's flagship ARK Innovation ETF has loaded up in recent weeks on Beam Therapeutics (BEAM 1.11%). The gene-editing stock currently ranks as the ETF's 18th-largest holding. It's also the ninth-largest position in Wood's ARK Genomic Revolution ETF.
Beam Therapeutics is a pioneer in base editing. Most types of gene editing involve double-strand breaks in DNA that can cause random unwanted insertions and deletions. Base editing is highly precise, with no double-strand breaks and no off-target genetic changes. Because of these characteristics, base editing holds tremendous promise as a method for developing therapies targeting genetic diseases and "off the shelf" cell therapies for treating cancer.
So far, Beam has advanced two base-editing candidates into clinical testing. It's evaluating BEAM-101 as a treatment for two rare blood disorders: sickle cell disease and beta-thalassemia. And the company expects to begin dosing patients in a phase 1 study of experimental cancer cell therapy BEAM-201 by mid-2023.
Those two programs could be joined by two others soon. Beam hopes to submit for regulatory approvals to start clinical studies of BEAM-301 as a treatment for glycogen storage disease type 1a and BEAM-302 as a treatment for severe alpha-1 antitrypsin deficiency by early 2024.
The company has a long way to go. But if its base-editing programs prove to be safe and effective, Beam could be a massive winner.
Even as anticipation mounts ahead of the US jobs data due later today, investors may be bracing for more volatility in the week ahead thanks to another round of risk events.
Economic Calendar for Next Week
All eyes will be on the incoming US inflation data as well as speeches from financial heavyweights and other risk events which could spark some fresh action across markets.
Monday, May 8
UK bank holiday honouring Charles III coronation
EUR: Germany industrial production, ECB Chief Economist Philip Lane speech
Tuesday, May 9
CHN: China trade, money supply
AUD: Australia consumer confidence
EUR: ECB Chief Economic Philip Lane speech (IMF)
USD: Fed New York President John Williams speech
US President Joe Biden debt ceiling talks
Wednesday, May 10
EUR: Germany April CPI (final)
USD: US April CPI
Thursday, May 11
CNH: China PPI, CPI
GBP: UK BOE rate decision & press conference
USD: US PPI, initial jobless claims
G7 finance ministers meet in Japan
Friday, May 12
GBP: UK Industrial production, Bank of England Chief Economist Huw Pill speech
USD: University of Michigan consumer sentiment, Fed speeches
The April US consumer price index (CPI) report published on Wednesday 10th May will be exactly one week after the Federal Reserve raised rates and signalled a pause in further increases.
Given how Fed Chair Jerome Powell has left the door open to further tightening if incoming economic data warrants, this could add more spice to the report.
CPI Forecasts
Markets are forecasting:
CPI year-on-year (April 2023 vs. April 2022) to remain steady at 5.0%.
Core CPI year-on-year to cool 5.4% from the 5.6% in the prior month.
CPI month-on-month (April 2023 vs March 2023) to rise 0.4% from 0.1% in the prior month.
Core CPI month-on-month to cool 0.3% from the 0.4% in the prior month.
Ultimately, further evidence of inflation slowing down could reinforce expectations around the Federal Reserve pausing and eventually cutting interest rates. Should inflation remain sticky, this could rekindle bets around the Fed leaving interest rates higher for longer.
Expectations are rising over the Federal Reserve cutting interest rates with the chance of a 25-basis point cut in July currently priced at 53%, according to Fed funds futures! It will be interesting to see how the incoming inflation data shapes market expectations around the central bank’s next move.
How Might the Markets React to the CPI Report?
With all of the above discussed, here’s how these 3 assets could react to the US CPI report
USD Index
The past few months have been rough and rocky for the dollar as investors weighed the prospects of the Federal Reserve pausing and then eventually cutting interest rates. More pain could be in store for the dollar if US inflation cools more than expected in April.
A soft inflation print may drag the USD Index toward the 100.72 level. Should prices experience a bearish breakout, this could open the doors toward 100.
A sticky inflation print could throw a lifeline to dollar bulls, propelling back above 101.50 with 102.34 acting as a key level of interest.
SPX500_m
After being trapped within a range for the past few weeks, could a breakout be on the horizon for the SPX500_m?
If the inflation numbers beat expectations, this may trigger a bearish breakout on the SPX500_m – taking prices below the 4050-support level.
Should the inflation numbers come in lower than market forecasts, SPX500_m bulls could be injected with renewed confidence as expectations intensify over the Fed ending its rate cycle. This could send the index back toward the 4180 resistance level and beyond.
Gold
It may be wise to fasten your seatbelts for potential volatility on gold due to its high sensitivity to inflation data and US interest rate expectations. The precious metal remains bullish on the daily charts despite prices pulling back from near-record highs.
A soft inflation report could sweeten appetite for the zero-yielding asset as bets rise over the Fed cutting rates in 2023. This development could push the metal back towards the 2023 high of $2063 with bulls eyeing $2070 and the all-time high at $2075.
A stronger-than-expected inflation number could drag gold prices back toward the psychological $2000 level.