Hologic Inc is a developer, manufacturer, and supplier of diagnostics products, medical imaging systems, and surgical products focused on women’s health and well-being through early detection and treatment. The stock is listed on the Nasdaq Stock Exchange. The price chart formed an 11-month-long rectangle with the horizontal boundary acting as strong support around the $67.70 level. A daily close below the $66.30 level will confirm the breakdown from the 11-month-long rectangle with a possible chart pattern price target around the $57.00 level.
Trade active:
Price has fallen through the previous support level of $66.30 and the short trade idea is confirmed.