Twist Bioscience (NASDAQ: TWST) is a public biotechnology company founded in 2013 and it’s based in South San Francisco. It manufactures synthetic DNA and DNA products for customers in a wide range of industries. In this article, we will be explored the based on the daily cycle .
From the low on 5/2/2023, TWST rallied an impressive 246% until late December. This upward move unfolded in three swings. Wave I ended at $27.36, wave II at $14.42, and wave III recently ended at $39.74. According to the Elliott Wave Theory, the proposed wave IV pullback is expected to unfold in 3, 7, or 11 swings above the $14.42 low. Consequently, after ending current pullback, the stock is expected to resume its rally in wave V.
TWST Daily Chart 1.25.2024
Examining the above chart, we observe a projected correction in wave IV. This correction appears within a three-wave Zigzag structure ((A)) ((B)) ((C)). It’s expected to reach equal legs at $30.33 – $25.59, then ascend. The blue box represents a high-frequency area where market cycles are likely to end and pivot. Consequently, TWST is expected to attract buyers and initiate the next upward leg within wave V.
In conclusion, TWST presents a potential investment opportunity. This opportunity is within the daily correction against the low of October 2023. Consequently, it could reach new highs, ideally later this year
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Source:-forecast.com/stock-market/twist-bioscience-twst-investment/
