GENZ had significant break down in March with an FDA warning about the condition of its plants and the delay of a drug for Pompe's disease.
The general market upturn has carried GENZ to some extent, but the technicals are not good.
GENZ more recently is showing a pennant formation. The question is whether this will resolve upward or downward.My take is that with the longer term down trend in the stock, this should test the long term support of 51 and may break through it.
The risk/ reward favors a short here, but a break above the blur trend line would change that thesis.
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well if it's bearish it will break down.. bullish up...
ReplyDeletewatch for the trap
Do you think that pennant looks bullish?
ReplyDeleteso... sentiment wise its what, panic turning into discouragement.... I'm not sure about the sector...
ReplyDeletebut I say you look at tech or retail. some of the things on the top of the list...