Another ho hum day. What more could I say? The bull and the bear were locked into a staring game. Good grief.
The bright side is that all these standoff is taking place in bull territory. Price is still on top of the 79 & 89 MA support lines.
After the market opened, $AMRN started to rally hard. Once it broke out of $2.50 resistance, I added more to round up my positive size.
What’s a perfect timing! Today green bar allowed price to catch up with the upward slope of the middle pitchfork line. As you can see, as time move forward, the middle line move higher as well. To stay within the Pitchfork range, price has no choice but to keep going up.
On $CERS, when I saw that price did not fall under the trend line but instead began to hold steady after an initial dip at the open, I began to buy back some shares. This time, I only bought back 1/5th of yesterday position. I will slowly add more if the bounce continues to gain momentum.
The green bar was a sight for sore eye. Now, let’s see the bounce.
Again, $LRAD inched higher.
Price touched the resistance of $2.50 and fell back down. Perhaps, tomorrow it will test the resistance once again.
Thanks to all three stocks closing green, my port gained back another 1.5% for the day. YTD gain is now at 17.9%.
LRAD, AMRN, CERS and 32% cash.
My 2 cents.
Categories: Daily trading Journal