Looking very short-term to a longer View: The two-hour chart of BEAM shares appear under accumulation. Consider buying shares on the dip and keeping some long-turn.
Note the rising pattern in the MACD and the RSI. This appears to be consistent buying pressure – likely by an institution.
- The six month daily chart shows the price approaching its’s 50-day moving average. It would be normal for the shares to not go through the resistance point (50-day ) on the first attempt. Buy into weakness for a six month goal (or longer). The current price is at a good support level, last seen in November 2020 before it tripled in price. While we do not believe a triple in price will happen in six months, we do believe this is a excellent entry price long term. Short-term we believe the share can give a 20% to 30% upside performance in the six months mentioned.
- We like to start buying an industry by buying into an ETF and then spreading out our interest into individual companies.
- Many of the companies in the Genomics area do not yet have earnings – some not even revenue. This make it harder to compare company to company. In that case we do look for popularity and reputation within the community.
ARKG* Ark Genomic ETF:
Still early is our call for a reversal of the trend but ARKG. We are watching the S&P 500 index for an indication that the lows of May will or will not hold. The second chart Below is of interest rates on the Ten-year Treasury.
LOTM Research & Consulting Service
* An account related to LOTM holds a position in this security.
Neither LOTM nor Tom Linzmeier is a Registered Investment Advisor.
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