Sequenom, Inc. provides products, services, diagnostic testing,
applications, and genetic analysis products that translate the results
of genomic science into solutions for biomedical research, translational
research, molecular medicine applications, and agricultural and
livestock research. The company operates in two segments, Molecular
Diagnostics and Genetic Analysis. The Molecular Diagnostics segment
researches, develops, and commercializes noninvasive molecular
diagnostic tests for prenatal genetic disorders and diseases, women’s
health related disorders and diseases, ophthalmology, oncology,
infectious diseases, and autoimmunity. The Genetic Analysis segment
designs and markets MassARRAY system, a nucleic acid analysis platform
that comprises hardware, software applications, consumable chips, and
reagents to measure genetic target material and variations.
To review Sequenom’s stock, please take a look at the 1-year chart of SQNM (Sequenom, Inc.) below with my added notations:
For the last (2) months SQNM has been consolidating within a common
price pattern known as a rectangle. Rectangle patterns form when a stock
gets stuck bouncing between a horizontal support and resistance. A
minimum of (2) successful tests of the support and (2) successful tests
of the resistance will give you the pattern. For SQNM, the rectangle
pattern has formed a $4.70 resistance level (red) and a $4 support level
(blue).
The Tale of the Tape: SQNM has formed a rectangle pattern. The
possible long positions on the stock would be either on a pullback to
$4, or on a breakout above $4.70. The short opportunities on SQNM would
be on a break below $4 or on a rally back up to $4.70.
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