I’ve traded in and out of $PACB in the past with some success. I had one big win but was stung with plenty of whipsaws due to my bad timing and inability to hold the stock with conviction; as a result, I took it off my radar until now.
From the recent earning announcement, it seems that $PACB’s Gene Sequencer has been perfected in a way that the biotech industry is beginning to take notice. For further reading on this, please click on this link.
I’m jumping back on this trade because of better fundamental and because of technical breakout.
Take a look at the daily chart below:
Did you see the persistence bullish price action after the breakout point despite the general market correction for the last few days?
Below is the weekly chart:
If $PACB’s revamped Gene Sequencer becomes the favorite in the biotech industry, we can expect to see the price climbs back to the IPO level of $16. (Don’t need me to remind you of the Big IF here…)
I was planning to buy more from scaling down. Since price refused to go down, I had no choice but began buying when price kept on climbing for the last two days.
My 2 cents.