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

It was almost a down day but the bull did bounce back up to close positive.  So far, if tomorrow cooperates, the bull may just recover from last week downdraft.  While the recovery was not as strong as the bear of last week, it is still a good start.  The bull must fight to maintain above the 79 & 89 MA line tomorrow to close the week; otherwise, it would be a weak recovery week which give the bear more motivation to try harder next week.

SPY_Daily

So far, the chart looks good for another up day.

$ONCY today took in water and dropped my port a bit.

ONCY_daily

Price is falling back into the flag channel.  Until price takes out the low of two days ago, there is still a chance for the price to bounces back up.

$AKAO, while down a bit after another nice recovery, continues to stay in the consolidation range waiting…

AKAO_daily

There is definitely a change of sentiment in this stock if you looked at the past two rallies that ended in giving back most gain and compared to the recent rally.  This time price is willing to stay in the upper range of the rally and not giving back gain.  I believe it is waiting for the “big money” to start buying.

$BIOC took another tumble but then I noticed that other related stocks such as $TROV and $SQNM were dropping even more.  The liquid biopsy sector is taking a hit.

BIOC_daily

Support is still at $2.22 but it may not go there.

$AMRN continued to bounce cautiously.

AMRN_daily

However, it would be nice to see price climbs back above the 79 & 89 MA line.

What do you know, $DMRC has a doji at the support!  I also added to $DMRC today looking for the bounce.

DMRC_daily

So far, we have three signals all supporting a bounce from here: 1) Support at Fib 38.2% retracement; 2) Support at $37 since July 8th; 3) a doji candlestick bar at the $37 & Fib support.    The probability of a bounce is high for tomorrow.

$LRAD also bounced cautiously.

LRAD_daily

I guess the main event will be the coming August 6th earning update.  Let there be positive surprise!

Unfortunately, $ONCY drawdown was a bit heavy than gains such that my port gave back another 0.5% for the day.  YTD losses is now at 3.9%.

Current holdings:

Main port: LRAD, AKAO, BIOC, ONCY, AMRN, DMRC and 4.6% cash.  Trading port: ARTH (up 36.3%)

My 2 cents.



Categories: Daily trading Journal

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