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

A spinning top at this point could be either a “pause” or a potential “top”; but giving the interest hike fear has dialed down a bit,  the bear doesn’t really have a leg to make a big move at this point.

SPY_Daily

With the 5 MA crossing over the 15 MA, it’s a good bet it’s a pausing spinning top bar.

$DMRC and $ONCY bounced nicely today.

DMRC_daily

All $DMRC needs to do is to take out the near-term resistance of $32.5x.  Giving that the momentum indicators below are just turning up, there are more room for price to rally before getting into overbought condition.

$ONCY has a very nice bullish engulfment bar at the bottom thanks to announcement of Completion of Enrollment in Randomized Phase II Prostate Cancer Study. I believe this is a very important study and will validate $ONCY’s REOLYSIN if successful.

ONCY_daily

A strong bullish engulfment bar provides strong possibility of a bottoming formation.  All price needs to do now is to take out today high and bounces further up. Momentum indicators at the bottom also show sign of turning up.

$BIOC also advanced after a morning false start; meanwhile, its rival siblings $TROV and $SQNM are still stuck in the mud.

BIOC_daily

Price needs to take out the 79 & 89 MA resistance above asap.

$AMRN and $ARTH were practically neutral for the day while $AKAO took in a bit of water. Since it did not change the nature of the chart patterns, I won’t be pulling up charts.

Current holdings:

Main port: DMRC, AMRN, AKAO, ONCY, BIOC   Trading port: ARTH

My 2 cents.

From my camera (click on photo for enlarged version):

Spider Web

Don’t get caught in the spider web created by the shorts!



Categories: Daily trading Journal

Tags: , , , , , ,

2 replies

    • Yes it is the Bird of paradise in the background behind the spider web. I’ll have a better picture of the Bird of Paradise next. Thanks for viewing!

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