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

Hooray!  Price rallied and closed above the 79 & 89 MA lines.  Now we are talking bullish.  There is still some work for the bull to take out the downtrend line above.  However, be watchful about a possible formation of a 4th lower high next to the downtrend line.

SPY_Daily

Price is now in the bull territory.  It needs to get back to the bull jetstream channel inside the three purple lines above.

$AMRN started to bounce after the open so I decided to get back in.

AMRN_daily

Price was not able to hold on to the morning high and fell back some before close.  I like to see price to climb back up above the 79 & 89 MA lines soon.  However, any positive decision from the judge regarding the 1st Amendment lawsuit will take this one up quickly; thus, I cannot stay out of position for too long.

I’m getting back into $DMRC today by buying a starter position.  Too bad I missed the rally from $27 to $45.  I sold my position at $27 in anticipation of a market crash and missed out the ride I was looking for.  Oh well, let’s try again.

DMRC_daily

Price is now finding support at the $37 level which happened to be the Fib 38.2% retracement level.  I’ll look to accumulate slowly.

While down a bit, $AKAO still looks good for continuing bull momentum.

AKAO_daily

Price is probably going to consolidate around here until the next buying wave comes in.

$BIOC did not do well today.

BIOC_daily

Next support is at $2.22.

$LRAD finally bounced some today.

LRAD_daily

Based on the chart, I think the $1.67 support is going to hold.

$ONCY also broke out of the flag pattern but the rally was quite tepid.

ONCY_daily

Good news is needed to move this one back up to the upside.

$ARTH corrected once again.  Price bounced off the 15 MA as well as the Fib 38.2% retracement.

ARTH_daily

I expect the congruence of 15 MA and Fib 38.2% Fib to form a strong support here.

Due to drawdown on $BIOC and AKAO, my port gave back 0.4% for the day.  YTD losses is now at 3.4%.

Current holdings:

Main port: LRAD, AKAO, BIOC, ONCY, AMRN, DMRC and 9% cash.  Trading port: ARTH (up 36.4%).

My 2 cents.



Categories: Daily trading Journal

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