06-05-2015 Journal- $LRAD, $AMRN, $BIOC, $CERS

I’ve got to give the bull kudos for managing to climb back from the early sell-off to close the bar as a long-legged doji bar.  Doji bar at major support, to me, means possible bounce from here.  Long-legged doji in bull territory at major support should throw caution to the bear who thought they are winning.

SPY_Daily

Look at how price climbed back up to close at the 79 MA line after bouncing off the 89 MA.  From my perspective, the probability of a bounce next week is better than 50/50.  From the weekly perspective below:

SPY_Weekly

Price is being supported by the 15 MA and the overall trend is still up.  There is still a long-way from the weekly 79 & 89 support which usually mean the bull is still fully in-charge albeit a bit of a correction.

$AMRN closed the week with a positive green bar heading toward the weekly 89 XMA above.

AMRN_weekly

From the technical reading of the weekly chart above , most signals point to a further upward momentum with price above all the 5, 15, & 79 MA lines.  Both momentum indicators below are also turning up.

$BIOC hasn’t made up its mind which way the breakout will be on the symmetrical triangle.

BIOC_weekly

However, from the weekly chart above, price closed above both 5 & 15 MA support as well as above the uptrend line.  I’m expecting a breakout to the upside.

$CERS continued to move higher and away from the 79 & 89 MA support which is a strong bullish sentiment.

CERS_weekly

Price is now above all technical supports (5, 15, 79, 89, and the uptrend line) on the weekly chart.  Notice that the momentum indicators below are pointing up as well.

$LRAD is the only stock in my port that was struggling and closed the week a red bar.

LRAD_weekly

However, price is still within the 79 & 89 MA supports on the weekly chart above.  As I mentioned before, this is a pure fundamental play with a long-term outlook.

Giving three out of four positions having positive momentum from this week, I’m looking forward to see how they play out next week.

Thanks to rallies from $AMRN, $BIOC, and $CERS, the gains were enough to offset drawdown from $LRAD to squeeze out 0.80% gain for the day.  YTD gain is now at 15.8%.

Current holdings:

LRAD, AMRN, BIOC, CERS and 5% cash.

My 2 cents.



Categories: Daily trading Journal

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