Today was a typical lackluster day. A day that even an attractive woman walking by wouldn’t arouse your brainwave ’cause your mind was dull. Yes, it was that kind of day today.
While a red bar, it was still a neutral day as far as I’m concerned. Ok, the bear got its foot at the door but its body is not yet out the door; so it is still 50/50 b/w the bull and the bear.
$AMRN had a normal reaction to the resistance at the $2.50 level.
Price may hang around at the $2.4x for a day or two before breaking out. That’s fine with me ’cause I’m here to wait for the script numbers to grow by leaps and bounds. I’m the $AMRN Friday guy. Yes, that’s right, Friday is when I know about the new weekly script numbers. There is going to be a lot of Fridays I’m watching for; so you know this is going to be a long-term hold for me.
$DMRC went south for the third day in a roll. Chart looked bleak but that is exactly what the short-sellers wanted you to see.
But there is the Fib 50% retracement support at the $34.30 level. Also, a simple penetration of the 79 & 89 MA support does not mean the support is gone. As long as price bounces back above the 79 & 89 MA support within two days after penetration, all is good. I’m expecting a bounce tomorrow.
$ONCY formed a doji today next to the 15 MA support.
With a doji near support, I’m also expecting a bounce tomorrow.
$BIOC moved higher but gave back some gain before closing bell.
Today red bar has a potential to form a shooting star bearish turn-around signal BUT it needs to be confirmed. Until it is confirmed with a down red bar tomorrow, there is still a good chance price may continue to move much higher from here. After all, we’ve a higher high and a high low bar today. Today news, “Biocept Secures Agreements with Preferred Provider Organizations Stratose and Galaxy Health Network for its Proprietary Blood-Based Oncology Diagnostic Assays” is another positive step for Biocept to advance further in commercialization of its liquid biopsy. Thus, with today news added to the foundation of Biocept, the odd of price moving higher tomorrow is better than 50/50.
$ARTH continued to advance a bit more while waiting for news on human trial. There are so much excitement waiting for the green light to start a human trial such that when the green light is on, price will shoot up in a dramatic way. And that is even before the result of the human trial is known.
Price is climbing nicely on the chart. It may break out of $0.39 cents even before the green light. I’ll be sitting on my shares waiting.
Due to correction of a few positions, my port gave back 1.6% for the day.
Main port: AMRN DMRC AKAO ONCY BIOC Trading port: ARTH
My 2 cents
Categories: Daily trading Journal