News Details – Smallcapnetwork
Trade Triggered on ATEC
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February 2, 2024

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PDT

It's all coming together.  Good morning fellow traders! It's been a while since our last trading idea, not because we haven't wanted to send one out, but because the market environment just didn't merit it. With things starting to settle now though, we can better identify attractive risk/reward scenarios. Today's is Alphatec Holdings (ATEC) - a small cap biotech name that's been working on a bullish rebound since August, but finally solidified the move yesterday.  There are two key sets of bullish triggers unfolding here. The first set is the dance with key longer-term moving averages. Though ATEC had been inching higher ever since August's decimation, until it actually hurdled the 200-day moving average line (green), any strength was suspect. Well, that's what happened as of Monday after the stock used the 100-day moving average line (gray) as a springboard a couple of times. Better still, the bulls followed through on Tuesday. The other bullish trigger here is more straight-forward... Alphatec Holdings got - and stayed - above resistance at $2.88 (orange).  The big gap from August that still needs to be filled is just a little gravy.  Though we don't suggest targeted timeframes with these trades, we will say that the vast majority of them are intended to be short-term swing trades rather than long-term holdings. To put it in perspective, we're not worried about the fundamentals or Alphatec's technology. We're only really watching the chart and tracking shifts in near-term sentiment. The intent is to lock in decent profits as soon as they're in hand, and to bail out at the first hint of trouble.  Anyway, here's the chart.   We Value Your Feedback Got comments, questions or suggestions? We want to hear from you. Send us your feedback. If you wish to send a written request or inquiry, please send it to our physical address: SmallCap Network  4364 Bonita Rd. #451  Bonita, CA 91902   Share the SCN Newsletter If you find the Small Cap Network Newsletter informative and profitable, please forward our newsletter alert service to like-minded friends and associates who share similar market interests.   Ensure Newsletter Delivery To ensure newsletter delivery, you can add any additional email addresses you may have to the Small Cap Network Member List. Receiving the Small Cap Network Newsletter in multiple locations is the best way of making sure you don't miss the next investing or trading opportunity! For web based email addresses, the Small Cap Network recommends @yahoo.com or @aol.com for timely and reliable email newsletter delivery.   Change Your Subscription Settings