Veracyte, Inc. operates as a genomic diagnostics company in the United States and internationally. The company offers Afirma Genomic Sequencing Classifier and Xpression Atlas solutions for a complex landscape in thyroid nodule diagnosis to physicians; Percepta Bronchial Genomic Classifier solution for use in lung cancer diagnosis; and Envisia Genomic Classifier solution for the diagnosis of idiopathic pulmonary fibrosis. It sells its products through product specialists, account managers, and medical science specialists.
Take a look at the 1-year chart of Veracyte (NASDAQ: VCYT) with the added notations:
VCYT has formed a major level of support at $22 (green) during the past several months. The stock has come back down to that level again, and traders could be expecting some sort of a bounce. However, if the $22 support level were to break, lower prices should follow for VCYT.
The Tale of the Tape: VCYT has key support at $22. A trader could enter a long position at or around $22 with a stop placed under the level. If the stock were to break below the support, a short position could be entered instead.
Christian Tharp, CMT