At least, the bull did not fall down another flight of steps today; instead it picked itself up and climbed back up a step.
The bull needs to get back in motion before the big boot come back to knock it down again.
$AMRN gained back yesterday loss. Price is now at the previous high of mid-August.
If price can keep up with the momentum, it can easily go higher from here. I’m curious to see what the script numbers will look like tomorrow.
$AKAO continued to react to TTPH’s failure by correcting some more. It is now a medium size spinning top. Price recovered some to close above the 79 MA support.
Spinning top next to support means high probability of a bounce. Let’s see if that’s the case tomorrow.
$DMRC corrected a bit after three days of continued gain which is healthy.
Price is still way above the 79 & 89 MA support lines.
$ONCY broke out of the downtrend line but failed to close above it.
Let’s see if price can break out again tomorrow.
$BIOC is ready to take out the resistance at $2.32 soon.
Price is holding steady waiting for reinforcement before making the break out play. Short interest dropped 7.3% from 08/14 to 08/31 or 166K shares. With shares price climbing recently, it seems like the shorts are exiting gradually along with new investors coming on board. Price is moving away from the insiders’ option exercising price of $2.01. I don’t think we will see that price again unless you are one of the insiders holding the options.
$ARTH closed with a medium size spinning top as well.
Since spinning top candlestick bar represents indecision (similar to doji), investors are debating whether to wait for human trial before buying or buy now and wait. My take is that if you want to wait for human trial announcement, you are going to be very diligent in keeping an eye on this stock and act FAST ’cause price isn’t going to wait around for you. I’m a firm believer in buy, hold, and wait if one believes in the fundamental story of the stock. This way, I don’t have to keep an eye on it. There had been many cases I failed to keep an eye and missed the big run on stocks I should have been on.
Due to corrections from three positions, my port gave back 1% for the day.
Main port: AMRN DMRC AKAO ONCY BIOC Trading port: ARTH
My 2 cents
Categories: Daily trading Journal