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Natera (NTRA) Weekly Bull Wedge Breakout

Natera (NTRA) Weekly Bull Wedge Breakout

by | Jun 21, 2021 | Chart SetUps

Natera (NTRA) is a $9.65B diagnostics company with revenues that grew 29.3% in 2020 and seen growing 45% in 2021. Shares are working out of a large weekly bull wedge with MACD near a bull cross signal and RSI out of a downtrend and back above 50. NTRA showed up on both the “Ready to Run” and “RSI Leading Higher” scans. Shares also broke out past VWAP off the highs with the wedge breakout and the 61.8% retracement level at $110.50 the last level to clear. The specialty diagnostics backdrop is seeing strong reimbursement rates and NTRA is breaking into a large Oncology testing market. The first Fibonacci extension target, 1.382, is at $144.