Contextual immersion trading strategy idea. Global Cord Blood Corporation, together with its subsidiaries, provides umbilical cord blood storage and ancillary services in the People's Republic of China. The demand for shares of the company looks higher than the supply. This and other conditions can cause a rise in the share price in the next days. So I opened...
NYSE:CO Stem Cell storage and research company with strong balance sheet, but based in Hong Kong. RED or GREEN or somewhere IN BETWEEN?
Applying Sinewave theory and an inverted fractal from the last crash (10k to 5.7k) I'm expecting something similar to what you can see in the chart below. Fractals never play out exactly the same but I'm still pretty confident that the price behavior will be similar. The parabola on the bottom was placed there 2-3 weeks ago (check my last post) and the pump...
CO is currently well oversold and resting on a previous price structure zone while being over extended below the short and long term MAs. A bounce to return to the mean here would allow for targets of 9-15% gain based on previous price structure zones.
We have another nice channel here. Since dec 2016 this thing runs and runs and runs... I will wait for the correction to happen, and then take a nice swing to the top. So for now, put it on your watchlist. Or not. Since I will update it anyways =) Good luck and good trades!
Strong move from the bulls previously Looking for a break to the upside
But is the bleeding over? Not sure. Back below 3.89 might lead to 3.75 and then 3.55 to bottom of the wedge.