$NVTA - Looks good for a reversal

NYSE:NVTA   Invitae Corporation
NVTA Looks like it's primed for a reversal. It's currently sitting on POC line of Volume Profile and 50DMA. MACD is showing bullish divergence on the daily and weekly. Monthly MACD just turned up. Additionally, it's right at the trend line of the descending wedge and a triangle bottom formation.
Near Term Targets - $1.70, $4.00, 6.00
Long Term Targets - $10, $16
Downside risk - $1.00 - $0.92
You will have to believe in the company's turn around. I would be building a position on this one.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.