$PCVX – UPDATE: Down 0.61R, Losing Confidence

I haven’t had a sell signal yet, but I am losing confidence. I mentioned in my original analysis that the length of the sideways move after the explosive one has been going on too long. Well, it’s still going on.

Today was the first time it closed below the 20-day MA, which isn’t a reason to sell, but is a reason for caution. You can see the vertical dashed line on 12/13/22. That was when I set my buy order at a pivot, then bought the next trading day. Since then, it has lost momentum. You can see the price action is getting weak while the market is gaining momentum. You can also see where the RS relative to the HC sector is also losing momentum. The one good thing is that this is all happening on drastically decreasing volume.

So, like I said, I’m not selling just yet but it’s building a pretty good case to get my finger ready on the trigger in case it deteriorates further.

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