Is This Stock Being Accumulated or Distributed?

Sometimes, when I squint at a chart, I see estranged signals. That is definitely the specimen for 10x Genomics Inc. (TXG), an $18.1 billion medical equipment company. Medical equipment stocks ($DJUSAM) have been consolidating for the past 2-3 months, which has led to relative underperformance by the group as a whole. That has weighed on TXG as the stock has been downtrending for months — plane surpassing the group’s run higher ended in early September. But are our vision deceiving us? Is TXG stuff piled during this period of weakness?


The AD line has been trending higher for months while price whoopee moves lower. That doesn’t happen too often and rarely to the extent we’re seeing here. Short-term, if TXG fails to hold gap support near 164 on today’s close, then a trip to test recent price lows closer to 159 squint increasingly likely — we’re nearly there. If 159 fails to hold, then flipside 10 dollars to the downside is quite possible. But, longer-term, the rising AD line could certainly be a bullish development. We’ll soon find out.

I write a FREE newsletter, our EB Digest, that features a stock 3 times per week, on Mondays, Wednesdays and Fridays. It’s completely self-ruling with no credit vellum required and you may unsubscribe at any time. CLICK HERE to sign up with your name and email address.

Happy trading!

Tom Bowley, Chief Market Strategist

Tom Bowley

About the author:
is the Chief Market Strategist of, a visitor providing a research and educational platform for both investment professionals and individual investors. Tom writes a comprehensive Daily Market Report (DMR), providing guidance to members every day that the stock market is open. Tom has unsalaried technical expertise here at since 2006 and has a fundamental preliminaries in public written as well, blending a unique skill set to tideway the U.S. stock market.

Learn Increasingly

Subscribe to Don’t Ignore This Chart! to be notified whenever a new post is widow to this blog!

What Is a Craftsman Style House?

Jeff Bezos’ Blue Origin aims to fly first passengers on its space tourism rocket as early as April