GenDX (WGS) Consolidation

The historical data on this company is pretty ugly. If you scale up to the monthly time ranges you'll see what I mean. The thing has basically been tanking since it was listed. That said, it seemed to have made a bit of a turnaround.

I'm watching this consolidation pattern on the uptrend. I'm watching for it to bounce around in here for another week or so. I'll be looking for a potential entry if I get 3 days of comparatively low volume with sideways price action. That will serve as the entry and stop blocks although I like a conservative stop as marked in the chart. This will end up keeping position sizes lower which is unfortunate.

The target marked is based on the last monthly / weekly level during the freefall. The length of time for this to play out is hard to gauge due to the inconsistency in the overall incline. I would probably tap out in a month if it doesnt move and look at other things.

The overall market health is kind of suspect. The major indices have taken a bit of a hit and are showing short term corrections to me so be cautious with this one.