Monday thought on $AMRN, $DMRC, $AKAO, $ONCY, $BIOC, $ARTH

Again, the rally today proved that even a doji  on the hourly chart near support on Friday can still provide an edge for a bounce.  And bounce it did.  I took my profit on my call options today because price is now at the resistance created by the recent short-term downtrend line.

SPY_Daily

Notice that downtrend line now formed a symmetrical triangle wrapping around the recent price actions.  Giving that the SP500 is now down 8.8 points in after-hour trading, it looks like the resistance is quite formidable.  If the bull is not careful, the bear can easily take price back down to the lower uptrend line and perhaps even break the line to the downside.

Today is a neutral day for my port with gains offsetting losses among my positions.

Although $AMRN didn’t have a strong follow-thru from Friday rally, it was still a higher close. This is probably a show-me stock now.  If weekly script number can show accelerated increase in the coming months after winning the 1st Amendment suit, price will follow.

AMRN_daily

At least, price is now back at the 2.35 and 2.45 range.

$DMRC traded back down to $37 support area.

DMRC_daily

Let’s see if this support can continue to hold as before.

Market reacted favorably to $AKAO earning report by bouncing back from Friday drop.

AKAO_daily

I’m expecting price to start a slow rise from here toward the end of the year.

$ONCY is now a waiting game.

ONCY_daily

Price is still trading near the 0.54 – 0.55 support.

$BIOC earning came out today. Below is an excerpt that will keep me holding this stock for long-term against volatility.

“Among recent developments, Biocept launched proprietary quantitative assays that target important mutations in colorectal cancer, melanoma and small cell lung cancer – all new biomarker assays for Biocept – while building upon what the company believes to be the largest number of commercial biomarker assays for clinical use of any company offering liquid biopsies. Biocept is working toward additional validation for its liquid biopsy approach through new collaborations, and is increasing physician awareness and adoption with featured presentations at important medical conferences.”

After-hour trading was neutral so let’s see what happen tomorrow.  I may add more.

BIOC_daily

Notice the spinning top bar at the support line. There is a possibility of a bounce tomorrow.

$ARTH finally had a break down today due to delaying of human trial to the 4th quarter.  I’m still holding and will continue to hold until the human trial begin.

ARTH_daily

Price may bounce off the low-end of the Bollinger band.

Since losses were offset mostly by gains, my port gave back 0.2% for the day.  YTD losses is now at 10.9%.

Current holdings:

Main port: AMRN, DMRC, AKAO, ONCY, BIOC and 7.4% cash.  Forgot to mention that I sold the rest of LRAD today.  Trading port: ARTH (up 20%).

My 2 cents.



Categories: Daily trading Journal

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