22-April-2024 | Live Market Analysis
Veracyte Inc
Short Term
NASDAQ: #VCYT
Disclaimer: This analysis is for educational purposes only and should not be considered as trading advice or recommendations. Always conduct your own research before making any investment decisions.
X Wave, we are going up to a point.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in green with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the...
They may have reached the bottom, as well as the entire XBI sector. Although it may still decrease to the red trend. Presumably the lateral correction is over.
Comment: One fibo taking into account the logarithm, the other without.
just now
Comment: One of the few biotech companies that I am interested in. And the technology that impresses me
After a correction of more than 27% from the previous peak, it's showing a sign of rebound. Short term target at 51.43 after confirmation at 48.95.
It's good to know the advancement oft $VCYT in lung cancer detection and collaboration with $JNJ .
Retracement shows a possibly bounce off of $45 then heading back up in which a long entry for quick swing can work. If it does not hold $45 it will continue down to low $30's possible final bottom at $28.
The biotechs are turning up, and VCYT is one of them. Factors on the chart are bullish: above the (green) cloud, above the base line, and Friday closing above the conversion line on a huge volume spike. Lone entry will be just above Friday’s high, with a protective stop just below the low.
From a Technical Analysis point of view, our (Mstardom Finance) proprietary trading strategy told us that the moving average accumulated over a month’s time for VCYT is $11.54. So, we should buy the stock when it falls below $11.54 preferably when it falls anywhere between $8.85 and 11.54.
On the other hand, our proprietary trading tool told us that we should...
