Trend-Lining @ -99%, Annualized
Is biotech about to go ‘flat-line’?
It’s not just biotech.
As The Maverick of Wall St. presents in his latest video, linked here … the entire market is poised for its next leg down.
In that video, estimates for that next leg are anywhere from -30% to -90%.
Fate Therapeutics FATE, Daily
FATE, is one of our ‘three amigos‘ of the sector, SPBIO.
The daily chart shows a confirmed, multi-hit trend line that’s declining at over -99%, annualized
FATE, isn’t the only one in the ‘- 99%’, crowd
TWST, is also trending lower at -99%, and BEAM, is running a close second at -98%, annualized.
Summary
Today, Friday (mid-session), is the last trading day before a holiday weekend.
During such days, we typically have an upward (low volume) bias.
With that, there’s still just a bit more trading room for FATE to contact the right side trendline.
Of course, what happens next will be the important part.
Stay Tuned
Charts by StockCharts
Note: Posts on this site are for education purposes only. They provide one firm’s insight on the markets. Not investment advice. See additional disclaimer here.
The Danger Point®, trade mark: No. 6,505,279
