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

Just like that, today down bar erased the effort of the bull for the last seven trading days.  Price is trading below the 79 & 89 MA which becomes resistances.  If Newton’s law is to be in action, then the momentum may continue tomorrow unless the bull throws in a strong “buying” force to counter the selling.

SPY_Daily

At the least, the bull needs to keep the bear from penetrating the uptrend line below to the downside. A bounce needs to happen if this uptrend line is to be protected.

Well, my port did not escape the selling momentum.  $BIOC got dumped probably due to $SQNM’s poor earnings performance.  But then, $BIOC is not the same as what $SQNM is doing, Biocept only focus on liquid biopsy diagnostic tests for various form of cancers and nothing else.

BIOC_daily

There is still support below. What happen next will depend on coming Monday earning report.

$AKAO continued to consolidated within range.

AKAO_daily

Price is still above the 89 MA line which is bullish.

$ONCY did not do well.

ONCY_daily

Price took a tumble below recent tight range.  Next support is 0.54 -0.55 area.

$DMRC actually did well despite a bit down for the day.  The range was small and price was able to close at the supports from the 5 and 10 MA intersection.

DMRC_daily

Look like a bounce tomorrow is likely.

$LRAD made the story today with the earnings call.  It was not good.  The large mass notification sales to the Middle East city had been lost to a large competitor.  Despite $LRAD’s superior technology, the buyer decided against it anyway.  So much for waiting a whole year for it.

LRAD_daily

From the weekly chart above, if you look at the circle (light blue) on the left, that was the price range before the proposal of the mass notification sales to the Middle East city appeared.  I can’t see price going any lower from here.  Anyway, LRAD is back to square one where they have to push hard to get new sales.  What can I say?  It is quite disappointing all around since most investors had waited since last year August run-up waiting for the success of the Middle East sales.  And now, the wait was all for naught. Despite a superior technology, it did not win  You could feel the frustration from the investors on the Q&A session after the earning update.  The mood from the call was quite dispirit compared to last year August which was exuberance.  But like everything else, there are still plenty of opportunity for LRAD to gain back momentum.  Patience is always the key even though the word has been overly used here.

$ARTH continued to hold steady in the trading range waiting for news of human trial.

ARTH_daily

I’ll be holding and waiting.

Except for $LRAD, all positions were down so my port gave back 0.9% for the day.  YTD losses is now at 3.3%.

Current holdings:

Main port: LRAD, AKAO, BIOC, DMRC, ONCY and 5.5% cash.  Trading port: ARTH (up 40.2%)

My 2 cents.



Categories: Daily trading Journal

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