DXCM falls below 200maDXCM just had earnings and investors aren't convinced.. 200ma is 375.42(Gold dots). If it stays below that through PRE market this could get ugly.. targets are redlines
0A4M trade ideas
DXCM flirting crossing above 200MADXCM has been creeping back ever since that massive sell off following a bad earnings. Gapped down below 200day (Gold line) and is now knocking at the door. will need a strong vol push to get thru . Once it does push I'm looking for it to close that gap with the target being Green line
ELLIOT WAVE PROJECTION*****TRADE ONLY ACTIVE IF WE BREAK ABOVE 200MA***
DexCom, Inc. is a company that develops, manufactures, and distributes continuous glucose monitoring systems for diabetes management. It operates internationally with headquarters in San Diego, California. Wikipedia
Customer service: 1 (888) 738-3646
Technical support: 1 (844) 607-8398
Stock price: DXCM (NASDAQ) $348.16 +10.76 (+3.19%)
Dec 8, 4:00 PM EST - Disclaimer
CEO: Kevin R. Sayer (Jan 2015–)
Headquarters: San Diego, CA
Revenue: 1.032 billion USD (2018)
Founded: 1999
EPS this Y 175.80%
Forward P/E 103.53 = GOOD TO GO
*trying to learn Elliot wave theory, please be careful*
What chop and sideways action looks likeNASDAQ:DXCM Below you'll find a chart of DXCM, a medical device company that manufactures diabetic devices. Really popular brand and praised for their innovative tech. As you can see, it had a massive up and now its been consolidating for a few weeks as a result of the crazy buying that occurred for months.
While it has found a bottom, its trading in what we call no man's land.
Taking a trade at this exact price is foolish because
1. you don't have a clear target of when it may reach there
2. No momentum
3. Capital is locked in doing nothing for a while
4. Stop loss is quite far down and has a high probability of getting tested
How to play this? sit and wait. Set price alerts for a break of 365 ish, setting a tight stop loss in case this breakout fails with too little volume
Alternatively, selling puts 2-4 weeks out at the 300 or below strike would net you some decent premiums while you wait. Owning shares at $300 wouldnt be too bad since there is an established support level
Alternatively, just wait for price to break 456$ (previous ATH), if it does with decent volume, it will go on another raging bull run for months. In the mean time, set alerts and wait it out
