It was quite an attempt by the bull to gain back some ground but the bear was simply too heavy to lift off..
Nevertheless, while gave back a chunk of gain, the bull managed to close the day in green. However, it is important that the bull continues to fight the bear to keep price over the lower Bollinger band. A bounce tomorrow to close the week will be a good sign that the bull is still in charge.
Today, it was $DMRC turn to take a break while the other three carried the ball.
The bear manged to push price down from the resistance. The shorts know this resistance is a key battlezone and they will do everything to keep price from staying above it. So far they’ve succeeded but I don’t think the bull is finished yet. I think price will stay in the $28 – $30 congestion until new positive development is announced.
$LRAD fell to the lower Andrew PitchFork line and bounced.
It was a good bounce with the formation of a hammer candlestick. If price takes out today high, the probability of a bounce is high.
$ORBC finally popped from a week of congestion.
Price now traded back to mid-$6. There had been two attempts to go near $7 before dropping back down. Will this be a third attempt? But again, price could still be trapped in the $6 – $7 consolidation range until a real catalyst kicks in to propel it to $7 and beyond.
$AMRN is still stuck in the mud near $1 so I’m going to leave it at that for now.
Thanks to gain from $LRAD and $ORBC, my port gained back 1.1% today with YTD gain at 9.3%.
LRAD, DMRC, ORBC, AMRN (100% invested/speculated)
From my other account:
I bought back some $MCIG since the appointment of Michael Snody as Chief Research and Development Officer. Today news also showed that they are moving in the right direction. I also received the dividend shares of Vitacig. It currently has no value placed on it since they are still waiting for a stock symbol to be issued.
My 2 cents.
Categories: Daily trading Journal