COGT a botechology stock with a great uptrend SHORT
COGY a biotechonology stock is doing what others
in the sector typically do in their performance when they
ignore general market dynamics and often hold up in recessions.
COGT has 4Xed since May earnings so ALPHA is high.
Right now the RSI is down trending so showing bearish divergence.
Additionally, the mass index went over the threshold and
then under the trigger suggesting an impending reversal.
The ADX indicator which has been as high as 100 for both up and down
trends is nearly zero. Although not shown on the chart, the mass
index indicator has triggered.
I conclude that COGT has ran up and extended too far and is now
set up for a short trade.
in the sector typically do in their performance when they
ignore general market dynamics and often hold up in recessions.
COGT has 4Xed since May earnings so ALPHA is high.
Right now the RSI is down trending so showing bearish divergence.
Additionally, the mass index went over the threshold and
then under the trigger suggesting an impending reversal.
The ADX indicator which has been as high as 100 for both up and down
trends is nearly zero. Although not shown on the chart, the mass
index indicator has triggered.
I conclude that COGT has ran up and extended too far and is now
set up for a short trade.