Company info
Applied Genetic Technologies Corporation is a clinal stage biotechnology company that develops transformational genetic therapies for patients suffering from rare and debilitating diseases.
Sector analysis for AGTC
Both the AGTC and WVE in my other trade idea have the same sector. The main ETF for this sector is the Health Care Select Sector SPDR Fund. However, there is an issue. Both these stocks are near all-time lows while the ETF is near an all-time high. So, the stocks are lagging behind. So, if you are going to trade these stocks be wary that they are going against the general market trend and there could also be other reasons as to why these stocks are not following the market.
Double Bottom Analysis
Type:
Adam and Eve
Length between Valleys:
5 weeks
Volume Trend:
Larger on the left valley
Breakeven Failure Rate:
12%
Throwback Rate:
67%
Average Rise:
43%
Price Target:
3.79
Percentage Change:
111%
The length between the two valleys is within the ideal range at 5 weeks. Concerning volume, it is larger on the left side but not significantly. There does seem to be a downward trend of volume going from the left valley to the right valley. But this trend begins at the end of the left valley at the price spike that follows. The great thing about this patterns is, the stock is very close to their all-time lows. The left valley low was the all-time low. This means the stock has great upward potential. However, as stated above, the stock is not following the general market trend. Also, the stock has been on a downward trend since its inception. Regardless, the pattern is following all ideals even though the stock isn't. So, the pattern strengths are 3/5.
Applied Genetic Technologies Corporation is a clinal stage biotechnology company that develops transformational genetic therapies for patients suffering from rare and debilitating diseases.
Sector analysis for AGTC
Both the AGTC and WVE in my other trade idea have the same sector. The main ETF for this sector is the Health Care Select Sector SPDR Fund. However, there is an issue. Both these stocks are near all-time lows while the ETF is near an all-time high. So, the stocks are lagging behind. So, if you are going to trade these stocks be wary that they are going against the general market trend and there could also be other reasons as to why these stocks are not following the market.
Double Bottom Analysis
Type:
Adam and Eve
Length between Valleys:
5 weeks
Volume Trend:
Larger on the left valley
Breakeven Failure Rate:
12%
Throwback Rate:
67%
Average Rise:
43%
Price Target:
3.79
Percentage Change:
111%
The length between the two valleys is within the ideal range at 5 weeks. Concerning volume, it is larger on the left side but not significantly. There does seem to be a downward trend of volume going from the left valley to the right valley. But this trend begins at the end of the left valley at the price spike that follows. The great thing about this patterns is, the stock is very close to their all-time lows. The left valley low was the all-time low. This means the stock has great upward potential. However, as stated above, the stock is not following the general market trend. Also, the stock has been on a downward trend since its inception. Regardless, the pattern is following all ideals even though the stock isn't. So, the pattern strengths are 3/5.