DexCom Inc - Short Opportunity
As a beginner, I'm trying to learn everything I can about investing for the long term, but also trading in the intermediate and short term. With some successes and failures now under the belt I figure I would share my next opportunity.
DexCom's recent earnings release surprised the hell out of analysts, rocketing up 27% on that day and still rising now. Hence, my next short opportunity.
A stock continually pushing a 52 week high has no reference point for resistance, therefore it's best to rely on indicators and the trusty candlestick patterns.
The volume has been dropping steadily since the earnings, pushing into overbought territory it's never seen before. At the sight of a bearish shooting star, with no increase in volume, go short!
Set yourself some reasonable profit margins and stops. Chances are it will test the $185.20 it opened at after earnings, but if you want to be more cautious utilize Fib Retracements (38.2% to 61.8%) from it's peak.
Remember, don't be greedy and lock in profits when you reach your goals.
DexCom's recent earnings release surprised the hell out of analysts, rocketing up 27% on that day and still rising now. Hence, my next short opportunity.
A stock continually pushing a 52 week high has no reference point for resistance, therefore it's best to rely on indicators and the trusty candlestick patterns.
The volume has been dropping steadily since the earnings, pushing into overbought territory it's never seen before. At the sight of a bearish shooting star, with no increase in volume, go short!
Set yourself some reasonable profit margins and stops. Chances are it will test the $185.20 it opened at after earnings, but if you want to be more cautious utilize Fib Retracements (38.2% to 61.8%) from it's peak.
Remember, don't be greedy and lock in profits when you reach your goals.
כתב ויתור
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