We have been seeing a brutal selloff/shorting since mid-February of this year - especially within the genomics sectors, a darling sector for ARKK investments. This is one of their highest conviction names. The chart is indicating a possible near-term bottom per the formation of a long-term trendline and sentiment slowly shifting with more buying volume this week.
So far, BEAM is following my speculation of a double bottom.
Because I know EDIT and CRSP so well, I know how quickly a person can get cucked.
Should this continue to confirm my speculation, I will go long. I like at least holding $80 on a close.
This is how I have been playing this stock:
Put in limit order for far less than the bottom of the spread.
For example, if bid is $15.50 and ask is $20.20, I put in limit at $14.00 or less.
If it fills, great, if not, no big deal
It filled for the $105 strike on the
16th - $11.80
I set a limit sell right away from whatever the buy...
Been following BEAM for a while, very promising tech.
Looks like we are heading towards a good buying opportunity between 96$ and 104$.
--- This is my first share, and I am new at this, if I am doing this wrong let me know!