TXG trade ideas
Cup and Handle ABC Bullish Patterns over PatternsShort interest is low on this one/NV and OBV are high
You may calculate long entry level on the ABC differently than I did so your targets would be different as well
Some may place A at the prior handle low, which would increase your targets because the AB leg would be longer
I was gonna use 136, but saw resistance in the ABC pattern at that level so made it higher/your call may be different. If you did use 136 and an uptrend starts there, you would deduct 3 dollars from each target
A clear uptrend is needed and I do not see that yet.
If a clear uptrend does develop earlier, then long entry level could be a bit lower, but it is sometimes hard to pinpoint before it happens
ABC patterns have a long entry when price breaks the BC leg in an uptrend
ABC patterns are considered a harmonic pattern
Nice because C gives you a stop. If price goes more than a tad under C, the pattern is invalidated, but the stop will save you
Some enter at C but is not truly correct. (I do sometimes though..lol)
Stop goes below C
There is also a cup an handle pattern in this chart
There are now rising wedges in the yearly chart
Patterns can fail, but can be used as a guide. Technical analysis is not an exact science for sure!
Company Profile MKT Cap 14.55 Billion
10x Genomics, Inc. logo
10x Genomics, Inc., a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in North America, Europe, the Middle East, Africa, China, and the Asia Pacific. Its company offers chromium instruments, enzymes, microfluidic chips, slides, reagents, and other consumable products. The company's single cell solution runs on its chromium instruments, which include single cell gene expression for measuring gene activity on a cell-by-cell basis; single cell immune profiling for measuring the activity of immune cells and their targets; single cell ATAC for measuring epigenetics, including the physical organization of DNA; single cell CNV for measuring cellular heterogeneity through DNA changes, such as copy number variation; and visium spatial gene expression solution that measures the spatial gene expression patterns across a tissue sample. It serves various academic, government, biopharmaceutical, biotechnology, and other institutions. The company was formerly known as 10X Technologies, Inc. and changed its name to 10X Genomics, Inc. in November 2014. 10x Genomics, Inc. was founded in 2012 and is headquartered in Pleasanton, California.
TXG rounding bottomNASDAQ:TXG looks to have found a bottom. Looking for $150 soon then $158.
SL at break of $134 support
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TXG time to cool offTXG with a monstrous 30% move over 10 consecutive sessions. RSI needs to cool off and MACD divergence indicating momentum is slowing.
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TXG, Aroon Indicator entered an Uptrend on Oct 19, 2020.Over the last three days, Tickeron A.I.dvisor has detected that TXG's AroonUp green line (see chart) is above 70, while the AroonDown red line is below 30. When the green line goes above 70 while the red line stays below 30, this is an indicator that the stock could be poised for a strong Uptrend. For traders, this could mean going long the stock or exploring call options in the next month. Tickeron A.I.dvisor backtested this indicator and found 92 similar cases, 86 of which were successful. Based on this data, the odds of success are 90%. Current price $152.96 is above $113.51 the highest resistance line found by Tickeron A.I. Throughout the month of 09/17/20 - 10/19/20, the price experienced a +36% Uptrend. During the week of 10/12/20 - 10/19/20, the stock enjoyed a +4% Uptrend growth.
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on September 28, 2020. You may want to consider a long position or call options on TXG as a result. Tickeron A.I. detected that in 14 of 16 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 88%.
The Moving Average Convergence Divergence (MACD) for TXG just turned positive on October 02, 2020. Looking at past instances where TXG's MACD turned positive, the stock continued to rise, Tickeron A.I. shows that in 6 of 7 cases over the following month. The odds of a continued upward trend are 86%.
The Aroon Indicator entered an Uptrend today. Tickeron A.I. detected that in 86 of 92 cases where TXG Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 90%.
Cup and HandleSupport noted at 113ish Strong support at 111ish
Large player interest noted with high effective volume
No rising wedges noted
Hammer on monthly but at a high. .Hoping for pull back closer to support
Not a recommendation
10x Genomics, Inc., a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in North America, Europe, the Middle East, Africa, China, and the Asia Pacific. Its company offers chromium instruments, enzymes, microfluidic chips, slides, reagents, and other consumable products. The company's single cell solution runs on its chromium instruments, which include single cell gene expression for measuring gene activity on a cell-by-cell basis; single cell immune profiling for measuring the activity of immune cells and their targets; single cell ATAC for measuring epigenetics, including the physical organization of DNA; single cell CNV for measuring cellular heterogeneity through DNA changes, such as copy number variation; and visium spatial gene expression solution that measures the spatial gene expression patterns across a tissue sample. It serves various academic, government, biopharmaceutical, biotechnology, and other institutions. The company was formerly known as 10X Technologies, Inc. and changed its name to 10X Genomics, Inc. in November 2014. 10x Genomics, Inc. was founded in 2012 and is headquartered in Pleasanton, California.
10x Genomics, Inc. (TXG) long.All description on the chart.
Please, don't forget to like and follow.
Thank you.
Hammer on support with strong volumeDISCLAIMER. This post is for educational purposes only and should not be construed as investment advice. Your use of the stock observations is entirely at your own risk and it is your sole responsibility
$TXG Possible Cup n Handle breakout - If breaks 59 resistance!$TXG Possible Cup n Handle breakout - If breaks 59 resistance could run to 63.
If not could be because
www.biorxiv.org
