The bear won this week.
Price is now at the support from the 79 & 89 MA lines as well as the previous highs from Aug to Sep. If this support holds next week, we may see a bounce.
However, from a weekly chart:
The bull is still in good shape since the trendline is still up In other words, the bear still has a lot of works to do before we can say the trend has changed.
Interesting enough, my port was spared from today general market drop. Three up and only one down.
$LRAD bounced some today and closed green.
From the weekly chart above, this week formed a solid hammer candlestick with a long-tail below. Price bounced off the lower Andrew Pitchfork line and closed near the mid-line. If price can take out the high of this week next week, price has a good odd to head back up.
While $DMRC was down today, price stayed put on the support established back in November.
If this support holds, the bull is still in good shape.
From the weekly chart below, $DMRC interim uptrend line is still intact.
The red bar this week is to be expected giving the general market correction. However, did you see that price is now at the support established back in July 2012?
$ORBC has done a great job holding its ground the entire week.
From the weekly chart above, $ORBC showed a healthy solid green bar bouncing off the 79 & 89 MA lines. As we approach 2015, news of completion of SkyWave Communications acquisition and the launching of the remaining eleven state-of-the-art M2M satellites will move price higher.
$AMRN also closed green today which allowed the formation of a weekly bar with a long-tail.
From the weekly chart above, if price can take out the high of this week next week, $AMRN will be in good shape.
Thanks to three up and one down, my port was able to gain back another 1.1% today despite general market downdraft.. YTD gain is now back to double-digit at 10.4%.
LRAD, DMRC, ORBC, AMRN (100% invested/speculated).
From my other account:
$MCIG price decline has stabilized at $0.17. Let’s see if the cannabis cyclical bullish run around the first quarter of the year will take place.
My 2 cents.
Categories: Daily trading Journal