In the dynamic realm of biotechnology, companies are often propelled into the spotlight when groundbreaking partnerships and promising drug candidates come to light. Compugen Ltd (NASDAQ: NASDAQ:CGEN ) is one such company that has recently made headlines with its collaboration with Gilead Sciences Inc (NASDAQ: GILD) and the development of its pre-clinical...
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We entered CGEN last week hoping for a rise to 15. The biotech sector (IBB) was breaking out and our model was picking up a potential reversal signal. So far the trade has been flat to down. We will be stopped out on any close below 12 but for now we are holding strong.
Ingenuity Trading Model is an algorithm used in- Stock, Forex, Futures, and Crypto markets....
Ingenuity Trading Model used in- Stock, Forex, Futures, and Crypto markets. For Stops and overall trade management join the club.
The model is a Geometric Markov Model :
In probability theory, a Markov model is a stochastic model used to predict randomly changing systems. Markov Models are used in all aspects of life from Google search to daily weather forecast....
Contraction Leads to Expansion. Just been waiting for price to close inside of the Double Bollinger Bands on the Daily. Ready to go. Looking to retest Highs and possibly move higher.
If price rejects 19.93 price and returns to bottom of channel, good entry point. Exit point would be 20 or higher, if price breaks through ATH, stoploss will be moved up to 19 and will trailing stop the run up. Stoploss will initially be set to 14.21 since that is past the bottom of the channel and allows wiggle room for price action to decide a direction....
Strength signal in the chart:
1. Mark-up stage
2. Pullback with shakeout
3. Green pentagon buy signal
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Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
Interesting company ,
I don't really like taking swing positions in biotech companies because I find they are somewhat unstable , lots can happen to gap a price down or up in a short amount of time.
Also, I do not have a medical background , so its kind of like reading a different language when you take some time to research the companies website ect.
But what...
It is breaking the buy point out today. The volume is about to exceed the average. watch for channel resistances.
12 months Consensus Price Target: $18.57
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Thx
Analysis done on 25/05/2020
Fundamental
→ 20 & 40 SMA sloping up
→ 20MA > 40MA
Awaiting buy trigger
→ CCI <-100
→ Low of daily bar touches 20MA or goes below 20MA
→ Close above 40MA
Pull trigger
→ Buy 1 bid above previous day high
→ Sell 5 bars later exclusive of initial bar
Stop Loss
→ 50% below price bought
