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IGMS a cash burning biotechnology stock SHORT
IGM Biosciences, Inc.
Short
IGMS a cash burning biotechnology stock SHORT
By AwesomeAvani
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Aug 29, 2023
2
Cheer
Cheer
Aug 29, 2023
IGMS is down about 70% YTD with no end is sight as the cash burn is greater than
the analyst's estimates.On the 2H chart, the midline of the Bollinger Bands has had
a persistent negative slope. Overall, IGMS is very shortable if shares can be found at
a low cost. I will watch for a correction of the upgoing price toward the middle of the Bollinger
Bands especially on a lower time frame such as 30-60 minutes and then target the bottom
of the Bollinger Bands on the daily chart for an estimated 25-30% profit. The entry would be at
the confluence of the POC line and then BB midline as a bounce down from that resistance.
This will be a great trade if S & P / SPY makes a deeper correction than already seen. There
was an opportunity one week ago and I think it will come again.
biotechnology
bollingerbandstrategy
IGMS
Oscillators
pocline
triplebollingerbands
volumeprofileanalysis
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