I'm watching this trendline to see if it might bounce. We've had a long period of down trend now with no bull volume present. Is everyone awaiting the bounce as me, or have this stock lost it's momentum? Thoughts?
Sorry to say I made my new entry way to early on TWST. Sometimes you do mistakes, but I'm still in this trade because I think we will have a strong bounce. I think that the news in yesterdays post market really changed the direction of that symetrical triangle that was forming. To me, these conditions looks like they are really oversold (also clear if you look at...
Having a look at the trendlines gives us a perspective of where we are now. We just broke bottom trend line, but below that bottom trend line there are strong support levels which seem to hold. Earnings upcoming in 6 days and other sector catalysts like Intellia earnings tomorrow.
There is a lot of support at the level we are at now, and conditions looks very oversold. Earnings tomorrow. I remember what happened last earnings, and presenting earnings in the conditions we are at now could potentially be very beneficial for this stock.
A lot of buying and selling today. If current trend continues we will touch oversold conditions soon and that could be the reversal of this correction. I will be keeping an eye on what happens at the support levels drawn, and trend line resistance, before deciding if I keep or sell my long position.