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

After a strong come-back week, this week was not an encouraging week at all.  Another green bar up week would be ideal; but this week inside red bar reeked of a pending doom.  It was like a dark cloud hovering over Walls Streets waiting for the storm to come.

SPY_Weekly

Price closed below the weekly 79 & 89 support (now a resistance.)  Bull needs to fight off the bear from taking out this week low.  A green bar this week will do the job.

$AMRN was able to fight off the general market bearish tendency and closed a green weekly bar.

AMRN_weekly

Price is getting ready to break out to the upside from the look of it.  But first, it needs to take out the  89 XMA resistance.

$DMRC also closed higher for the week but only slightly though.

DMRC_weekly

Notice that it was a doji bar week. This is a doji next to the 5 and 15 MA support.  Thus, the probability of a bounce is high from here.

$AKAO also closed positive for the week but only slightly as well.

AKAO_weekly

From the look of the weekly chart, I could easily visualize an uptrend starting from here.  The bear had its days for most of the year pushing down $AKAO, now it is time for the bull to gain back territory. It would be interesting to watch this one climb.

$ONCY closed the week with a green doji bar.

ONCY_weekly

See how the doji bar closed above the 5 and 15 MA and changed these two resistances into support?  Now, a doji near support means a high probability of a bounce from here.

What do you know, $BIOC also closed with a green weekly bar.

BIOC_weekly

Price is now at the edge of the upper symmetrical triangle,  This give a higher probability of a break out next week.  Next resistance is the $2.5 where the 15 MA line is.  This is going to be an interesting one to watch as well.  There are 2,265,400 shares shorted which represented 14.92% of the float.

BIOC_Short_interest

Source: http://shortsqueeze.com

Look here, this is a newly minted Biotech company in the liquid biopsy sector.  So far, it seems to have the most commercial diagnostic tests available as well as more biomarkers locked down in IP.  Even the latest upgrade by H.C. Wainwright seemed to follow the same logic and declared “Biocept Could Double On Liquid Biopsy Leadership”.  With an all out battles going on in this sector and Biocept being in the forefront, the shorts somehow decided that Biocept would not make it due to the current poor financial data.  Really?  Shouldn’t they be asking if Biocept diagnostic tests work?  How ’bout “How many diagnostic tests are being used commercially compared to competitors?”  The confidence doctors placed on the result of the diagnostic tests is priceless in term of growing value in the company.  Once Biocept establishes its trust and reputation in the liquid biopsy sector, we will be kicking ourselves for not buying more at the Insider’s exercising price of $2.01 or lower.  So the shorts are making a BIG ASSUMPTION that Biocept diagnostic tests do not work and is inferior to their competitors.  Surely, the shorts could not argue that only poor financial is the main reason for the 2.2 million shorts interest; they have to expect that the diagnostic tests don’t work.  Otherwise, why all the “cry wolf” on bankruptcy scare tactic?  Well, I believe the shorts jumped to the wrong conclusion too quickly here.  As Biocept builds it reputation, the shorts are going to have a hard time finding shares to cover.  Eventually, the panicky shorts will be eating their own comrades while scrambling to get out.  Those shorts who continues to average “up” in their short position are going to get squeezed so bad that they forgot where they were when they came to.  “Hey Doc, why are your finger in my a*s?

$ARTH had a great week!

ARTH_weekly

Look at that higher close on the weekly bar.  It is a spinning top candlestick bar.  Hmmm… a spinning top on top of the 79 & 89 MA support lines, I think it is safe for me to say we are going up!

What do you know, all my positions in my ports closed higher for the week as opposed to a negative weekly close on the SP500.  While not a great number, my port gained 2.38% for the week.

Current holdings:

Main port: AMRN DMRC AKAO ONCY BIOC and 4.9% cash.  Trading port: ARTH

My 2 cents



Categories: Daily trading Journal

Tags: , , , , , ,

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