It was a week of bounce. Although it could not recover all the downdraft from the previous week, it did recover half-way.
However, it is still a lower-high and a lower-low weekly bar for the week. Another up week is needed for the bull to reclaim a bullish stance.
My port also had a bounce to end the week.
$DMRC continued to prove the thesis that a doji bar at support means a high probability of a bounce.
Price bounced nicely and that prevented the weekly bar from becoming a bearish engulfment bar. The long shadow at the bottom showed the bull is still alive and kicking.
$ONCY also bounced on Friday and that left a small spinning top weekly bar the at 5 MA support.
I’ll say the probability of a bounce is pretty good for next week.
$AMRN finished Friday with a weekly up bar.
While a small green weekly bar, it showed that the bear has lost its momentum.
Meanwhile, $BIOC ended the daily downdraft with a green bar to stop the bearish momentum.
It is still a weekly red bar but price is still above the $2.22 support.
$AKAO ended the week with a doji weekly bar.
Since the doji bar is above a former resistance, it may consider to be a “pause” on a continuing trend.
$LRAD ended the week with a spinning top (with long tails on both ends) next to a support of $1.67. Therefore, the probability of a bounce is very strong for next week.
I can imagine a positive earning update next Thursday to drive a tall green weekly bar for next week.
Meanwhile, $ARTH continued to hold its ground without giving back much gain for the week.
The week was an inside weekly bar. A breakout of the high from three weeks ago may signify a continuing uptrend momentum.
Due to $LRAD taking a hit on Friday, it reduced the gains from other position to squeeze out a 1% gain for the day. YTD losses is now at 2.9%.
Main port: LRAD, AKAO, BIOC, ONCY, AMRN, DMRC and 4.5% cash. Trading account: ARTH (up 48.2%).
My 2 cents.
Categories: Daily trading Journal