Fulgent Genetics, Inc.
做多
已更新

Position Trade 2: FLGT

144
Let's try again, this setup looks better than my previous one: FLGT did a breakout yesterday after staying in a bottom for almost 3 months. The indicated platform looks like a buy zone where the institutions were accumulating, we see a pretty flat A/D (with a few anomalies) and above average volume between 05-01 and 05-08 with price staying in range. ChiOsc and MFI both crossed above 0 recently. This all looks pretty good. Institutional holdings are about 68% according to Nasdaq, this is ok but above 70-80% would be better.

Setup as follows:

  • Entry: Pop out of the box after bottom completion
  • Order Stop 17.65, Limit 18.03, GTC
  • SL: ~Consolidation low, 15.36
  • TP: ~January Low 25.5
  • Status: Pending


We only want to enter if yesterday's spike was an anomaly that's why we use a stop limit order to avoid being trapped. Be cautious: Analyst ratings of this stocks are not that good (Piper Sandler downgraded to $15) and the company is still in loss, but revenue is growing since the post covid decline, the company seems to be recovering. Sector is healthcare which is currently gaining strength.
交易开始
We're in 🤞
注释
Current status: We had a nice little run followed by a consolidation which ended today with a beautiful breakout to the upside. This breakout could be used as buy signal to add more but I personally leave it as is because the stock has mediocre fundamentals and could still break quickly. Thesis stays intact, indicators are still showing strength.
注释
Price action turned weak, could be because of weaker markets though.. Setting SL to 17.83 not to get trapped (near 0 P/L)
注释
From what I've learned today I might want to give it a bit more room to be able to retest the platform high, SL goes back to start 15.36 (consolidation low)
交易结束:到达目标
Showing weakness as it broke through the last platform to the downside, volume fades and indicators move down. Setting a market order to close at open, target ~10%, not the initial goal but well in profit.
注释
Would you look at that, dropped from 20.20 to 16.50 in a single session, my assessment wasn't too far off

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