Biotech capital-cycle expression ladder
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Biotech capital-cycle expression ladder
Biotech capital-cycle expression ladder — 2026-08-24
Internal rung-authoring receipt for the first conviction-pipeline lanes. The
durable setup remains the perspective's own rule: quality tools/CROs enter on a
support reset that holds; post-exhaustion mid-caps require a higher low, a
reclaim, and volume confirmation. A numeric touch only asks for a verdict. The
shape legs still have to be present before an in-zone verdict can convert.
Fresh tape
| Tier | Ticker | Aug 21 close | RSI | 20-day | 50-day | 200-day | Relative volume | Rung |
|---|---|---|---|---|---|---|---|---|
| Quality tools | DHR | $218.85 | 68.3 | $202.86 | $195.43 | $202.97 | 1.07x | Wait for the $210.39 volume shelf; do not chase the current extension. |
| Post-exhaustion | VKTX | $33.89 | 47.9 | $33.66 | $35.08 | $33.72 | 0.78x | Higher low, then 50-day reclaim on confirming volume. |
| Post-exhaustion | AGIO | $33.09 | 44.7 | $33.26 | $35.56 | $30.93 | 0.47x | Higher low, then 50-day reclaim on confirming volume. |
TXG ($65.12, RSI 74.0, +38.4%/30d) remains an extended pass. ABSI has reset to RSI 56.6 but is already above its 20-day without confirming volume (0.86x), so it also stays a pass rather than inheriting either VKTX or AGIO's receipt.
Sources
- Setup rules and tier membership:
research/perspectives/2026-06-04-biotech-capital-cycle/README.md. - Settled price, RSI, averages, shelves, returns, and relative volume:
research/market-engine/data/summaries/biotech-capital-cycle.json(latestDate: 2026-08-21).
Related
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