PACB is a real chance for mid and long term investment. Follow the analysis if you want to find out the details.
Stock's trend is clearly up. There are still two large up going waves to complete the whole Elliott wave cycle.Wave count labels have been shown on the chart. Correction (wave 4 ) of labeled up going wave 3 ( from 2.2 to 53.69 !) has more than likely been completed at 0.618 golden ratio retracement around 21 USD.
It seems the stock has started the new rally (wave 5 of (3) ) after correction and completed wave i and now is completing wave ii of 5 of (3). Good entry point may be around 23 USD which corresponds to 0.786 retracement of wave i .
Our first target is a new All Time High around 61 USD which is a strong resistance to form by 1.272 extension of wave 4 and 0.786 projection of wave 1-3.
After completion of wave (3), We probably see a retracement down to 31 or 24 USD corresponding to 0.5 and 0.618 Fibonacci levels. Then we will have a new and final up going wave (5) before the BIG SHORT !
In terms of timing , Chart is just a schematic drawing So, I kindly ask you to disregard the dates on the chart.
I hope this analysis to be helpful and wish you huge profits.
@avi417, For swing trading we have to wait for a new low to form. set that low as our stop loss and open the position in the case of taking out last high.
TORNADOF5
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@SaeedSajedi, thank you , i use market sell stop limit order , when im doing swing trades , is it safe from a gaps ?? as you see im very new at this ...=/
SaeedSajedi
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@avi417, I think nothing is safe in gaps..But we have to trade objectively. We really do not know if the price can fill the gap or goes lower in gap down cases for example.
TORNADOF5
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@SaeedSajedi, what can we do if our sell stop gets a gap ??
how do we stop the crush more and more ??
i know no one can give an advise , but what you will do ?? , this is very important to me and not only to me i think im not the only noob over here xDD
thank you very much
SaeedSajedi
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@avi417, You can put your order as ((stop limit )) if you broker has the option. It sells at your desired price in the case of stopping out but it has its own risks. these things of some parts of risks of trading. If stopped out just stopped out. No more thinking about. We have to be focused on open and next trades.
TORNADOF5
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@SaeedSajedi, yes i use only market stop limit order ,
but any way what to to if the stop order didnt worked cus the big gap ??
gap and stop order fail , so we are in the falling knife , what could i do about it ??
SaeedSajedi
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@avi417, I think nothing can be done. I can recommend you not to buy such volatile stocks and not to go long and short before earnings.
TORNADOF5
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@SaeedSajedi, damn !! this is scary LoI
so all the cash from a thing like that could be lost , even then we cant kick this stock ?? even after the trading day is over ??