I only ever got a few entries onto this position early on and have taken profit along the way mainly due to freaking me out with the volatility when we started spiking to 200 dollars back at the end of 2020.
I chose to play some of the bio tech and pharma plays during early covid as a defensive play but also some high risk as the controversy around the vaccines could have significantly back fire on me but I took the punt anyway. As I mentioned I havent taken any new entries since jan 2021 and just riding what i have left now, but its one of those stocks that just keeps running for me with regret of not going in heavier or not taking profit early with partial position lol but thats the game isnt it, hindsight's a bitch.
Not doing any fancy TA on this, simply just following the channels up and looking for reaction on the outer limit of the pitchfork (set to 1.618) any major break down of the mean and I may look for a top up but I feel its gone far enough and actually looking to de-risk soon and reduce position further.
I look more towards the fundamentals of the company and I was being conservative with my $400 estimates over the next few months. Taken from Yahoo Finance, the company is expected to have revenue of 18.3 Billion and about 9.8 Billion in earnings ($24.57 earnings per share) for 2021 and even more for 2022, the average PE for the biotech industry is 30, so simple math 24.57 X 30 = $737.1 share price by February 2022 when they report their year end.
DeNomics
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@Tazatron, 400 seems like a fair stretch right now
Tazatron
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@The_Grizzly_Bear, the way we are going $400 might be by earnings Aug 4th. Of course being added to the S&P 500 helps :)