Another neutral day for the general market; however, on the SP500, it is definitely biased to the upside due to the consecutive positive closes from Tuesday to today.
Today, except for a small correction on $KNDI, my other seven stocks traded higher at the close.
$GALE continues to trade well and price action is now trading above the 5 MA line which is very bullish from my perspective.
Notice price action is also following the upper band of the Bollinger band.
$KGJI is testing the resistance at $1.85 once again.
It is looking more and more feasible that by next week, price will trade over that resistance.
$CERS has a strong week and price took out the resistance of $7.13 from early October.
From the weekly chart above, I can deduce that price will head much higher from here. $8 is the next target.
$AMRN is able to close above the December high of $2.19 today.
This is definitely a good sign since it is reflecting a general consensus that FDA “may” come out with some positive response by Jan. 15th. Of course, this is still a gamble on a binary event; but I sense that the cards may be in our favor the way a card counter know that the dealer may bust giving the number of high cards in the shoe.
$TINY finally came back to life today with price action closed above the 79 & 89 MA lines.
Notice that the Bollinger band had shrunk with price action closed above the upper Bollinger band. There is a possible breakout to the upside in the next few weeks.
$LRAD is holding its ground above the $1.90 price zone.
See how the 5 MA line is now beginning to point up and may be crossing over the 15 MA line next week.
$XONE continues to hold its ground above the November high at $64.70 support..
I like the fact that price closed above the 5 MA line.
And finally, $KNDI continues to trade inside the consolidation range (grey box).
Since the overall trend is still up, I’m not worried about current price action.
Since seven out of my eight stocks closed higher today; my portfolio continued to head higher.
KNDI, LRAD, GALE, CERS, KGJI, XONE, AMRN, TINY (fully speculated)
Regarding $PHOT on my other account:
As you can see, price bounced off the 15 MA line near the $0.19 line. I added some more shares a bit below $0.20. Since I’m still sitting on unrealized gain on my $PHOT speculation, the additional shares I’ve bought yesterday and today are considered averaging up. I’m still a believer in $PHOT from a long term perspective. Why do I worry about a 20 cents correction when I’m looking for dollars plus gain in the years ahead?
My 2 cents.
Categories: Daily trading Journal