Another slightly bullish day in the holiday season. Three more of these bullish days and we may close the year with a new high.
Price continues to stay above support which is always a good sign.
Perhaps tax losses selling is over after today? Who know, but the good news is that $LRAD bounced nicely today.
Today bounce was a much needed momentum to stop the sliding of price for the week.
The weekly bar above shows a green bar bouncing off the lower trendline of the Andrew PitchFork which gives a better probability of a continued uptrend for the coming weeks.
$DMRC also ended the week with a good note.
The solid weekly green bar counter-balanced the previous two red weekly bars. Perhaps, 2015 will be a roaring year for $DMRC. That would happen if the retailers are embracing $DMRC’s Digimarc barcode system. January 2015 retailer conference will be a catalyst for $DMRC.
$ORBC also has a good week with the weekly green bar maintaining altitude near the $6.75 resistance line.
Will it take that resistance out to close the year? We will find out soon enough early next week.
Unfortunately, $AMRN did not have a good week. Instead, it was subjected to selling which I suspected was tax losses selling.
Currently, price settled around the Fib 61.8% retracement level. Will it bounce next week? I’m holding due to the fact that weekly script numbers have been above 10,000 for the last three weeks. I can see script # growing more faster in 2015.
Due mainly to bounce from $LRAD today, my port gained back 2.2% with YTD gain back to double-digit at 10.8%.
LRAD, DMRC, ORBC, AMRN (100% invested/speculated).
It would be interested to know if my port can maintain the double-digit gain to close the year.
From my other account:
Instead of putting money back to cannabis stocks, I opted for biotech this time. I like $AGEN strong momentum and expect it to make new high next year. $AGEN could be another $CLDX. Recent positive outcome of Phase 3 Study of GSK Shingles Vaccine contained $AGEN’s Adjuvant, this could be the catalyst for a possible buyout from GSK or other big pharmaceutical companies.
This weekly bar closed above the previous resistance created from July 1st high. If momentum can continue, I expect price to take out the next resistance at $5.27 (Feb 2014 high) and then $7.21 (April 2012 high). Of course, this is just pure speculation on my part.
My 2 cents.
Categories: Daily trading Journal