My thought on $LRAD, $BIOC, $AMRN, $AKAO, $ONCY, $ARTH

What a week!  It’s about time the market spent the whole week going up. It is important that the momentum continues on next week ’cause price is now near the resistance from the downtrend line created by the 1st high and the 2nd lower high.

SPY_Daily

A failure to breakout of this resistance will open to the possibility of a 3rd lower high and another interim downtrend.  However, when looking at the $SPY weekly chart below:

SPY_Weekly

You get a sense that this bull move is quite strong and the odd of continuing upward momentum is high.

Fortunately, my port also bounced higher from last week.

$AKAO confirmed my suspicion that it wanted to go up.  From the weekly chart below, The solid green weekly bar closed above the previous resistance of $6.93, up almost 13% for the week.

AKAO_weekly

The 15 MA came down to meet up with the 5 MA and now they are ready to head up.  Perhaps the only company that has the treatment for multi-drug resistant gram-negative infections in the United States.  These gram-negative bacteria are deadly and can kill.

The company is principally developing plazomicin, which is in Phase III combating antibiotic resistant enterobacteriaceae trials for the treatment of bacterial infections due to multi-drug resistant Enterobacteriaceae, including carbapenem-resistant Enterobacteriaceae.

Thus, I’m confident Achaogen, Inc. will eventually be bought out by BP when Phase III result comes back positive.

$ONCY ended the week up 12%. It also has a higher-high and a higher-low weekly bar as well which is bullish.

ONCY_weekly

From the weekly chart above, $ONCY looks like it wants to bounce higher.  Both momentum indicators are pointing up. I give it a better than 50/50 odd of going up next week.

$LRAD came third in by bouncing 2.6% for the week.  It looks like that the Fib 61.8% retracement level is a strong support and is holding.

LRAD_weekly

Price closed higher than the Fib retracement. I’ve got a “feeling” that $LRAD is seeing $2.00 or lower for the last time.  Price is going to bounce from here.  I’m a strong believer that $LRAD’s technology will turn LRAD into a much bigger company eventually simply because its technology has no competition.  It’s direct sound beam is patent protected and there is only so many way you can generate sound in a direct beam like a laser gun.  I’ll be patient here.

$BIOC came fourth with a 1.5% increase for the week.

BIOC_weekly

At least price is still within the symmetrical triangle.  In other words, it is also riding on the uptrend line.

$AMRN took the last place by being down 0.4% for the week.

AMRN_weekly

Price will bounce around $2.4 to $2.5 area until news from the Judge decision.

$ARTH, on the other hand, while not sharing its place in the main port, is having a great week by being up 33.2%!

ARTH_weekly

Volume was also very high.  The next resistance is $0.454. Price may bounce around before it gets there or it can just go up there in a straight line.  Any progress update relating to its human trial in the summer will be the catalyst for a straight line upward movement.  I’ve owned this one since January of this year.  My patience is being paid off.  There is a possibility that my position in $ARTH will eventually eclipse my main port in investment size.

While my main port was down 1.1% for the day, it is up 3.8% for the week.  YTD gain is now at 6.3%.

Current holdings:

Main port: LRAD, BIOC, AMRN, AKAO, ONCY and 4.2% cash.  Other account: ARTH (up 55%)

My 2 cents.



Categories: Daily trading Journal

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