$PACB Falling Wedge Breakout
Called this out at $20.40 when wedge broke up, $PACB is a strong long term holding. Has run up massively this year but probably has more room to go, especially in the long term.
A note on the two trendines. I had alerts on both these trendines. Why? It's a messy but clear downward wedge on a high beta, small cap. The 'way' that PACB (and the entire genomics sector) moves is in leaps, not steps. I set two trendline alerts so I would know when to go absolutely long (2nd trendline), and where to check to see if I should go long (1st trendline).
A note on the two trendines. I had alerts on both these trendines. Why? It's a messy but clear downward wedge on a high beta, small cap. The 'way' that PACB (and the entire genomics sector) moves is in leaps, not steps. I set two trendline alerts so I would know when to go absolutely long (2nd trendline), and where to check to see if I should go long (1st trendline).
Comment:
PACB and entire genomics sector still quite in play. $PACB should push up here to new highs
