Dexcom is at weekly Camarilla H5 resistance and will probably get sold off shortly. Recent SEC filings show corporate insiders dumping their shares but it appears that institutional ownership are still holding; with 98% of available stock under institutional management. I suspect that institutional holdings will slowly spill out from the top of the triangle but once the economy is back in shape, the technical data suggests that DXCM will likely explode when everyone rushes in and rebuys.
One thing that stands out in particular about DXCM is the 1hour CCI (commodity index channel). There have been a few instances of CCI over 500, the highest reading on November 7th 2019 came in at 595 (extreme numbers). This means that the buying on that day was truly insatiable, as if people couldn't buy fast enough; they didn't care what the price was--they just wanted in. And maybe they had reason to go full fomo at $150 per share because price never went back even during the March blood bath of 2020. Once a stock exhibits fomo buying behavior, it will do so indefinitely; even into bankruptcy (Hertz). Hertz is a case of volatility extremes even before becoming a penny stock. Going from $25 to $50 is just a normal month for Hertz.
Now let's talk about daily CCI: 521 at the price of $180. 500+ on the daily reading is INSANE! Google at $650 had a CCI reading of 400. Tesla Motors easily goes past 350 CCI but 400 is the max. Dexcom spikes 400-500+ easily which makes me believe that the inevitable price point of $1000 is in the books and it won't be a slow grind to $1000; it will be a sudden move that shakes the earth and destroys things overnight.
My plan is to watch for the dip and get a piece.
One thing that stands out in particular about DXCM is the 1hour CCI (commodity index channel). There have been a few instances of CCI over 500, the highest reading on November 7th 2019 came in at 595 (extreme numbers). This means that the buying on that day was truly insatiable, as if people couldn't buy fast enough; they didn't care what the price was--they just wanted in. And maybe they had reason to go full fomo at $150 per share because price never went back even during the March blood bath of 2020. Once a stock exhibits fomo buying behavior, it will do so indefinitely; even into bankruptcy (Hertz). Hertz is a case of volatility extremes even before becoming a penny stock. Going from $25 to $50 is just a normal month for Hertz.
Now let's talk about daily CCI: 521 at the price of $180. 500+ on the daily reading is INSANE! Google at $650 had a CCI reading of 400. Tesla Motors easily goes past 350 CCI but 400 is the max. Dexcom spikes 400-500+ easily which makes me believe that the inevitable price point of $1000 is in the books and it won't be a slow grind to $1000; it will be a sudden move that shakes the earth and destroys things overnight.
My plan is to watch for the dip and get a piece.