10X Genomics, Inc - Bullish divergence

On the above 6-day chart price action has corrected 75% since the sell signal back in November 2020. A number of reasons now exist to be long, including:

1) Double ‘incredible buy’ signals. Awesome.

2) Price action and RSI resistance breakouts.

3) Price action is arrested by past support / resistance.

4) Regular bullish divergence following capitulation. Lovely.

Is it possible price action falls further? Sure.

Is it probable? No.

Ww

Type: trade
Risk: 6% of portfolio
Timeframe: Rather not say
Return: 100% for starters