It was a battle week and the bull won at the end. The week kicked off with another doji bar on Monday; neither the bull nor the bear won the day. Then the bear pulled a fast one Tuesday morning with a gap down but the bull fought back and even made new high during the day. But the bear would have none of it, it used its backup energy reserve to push the bull back down and won the day Wednesday was a make-or-break day for the bear so it threw everything it had to keep the downward momentum going. It succeeded but was exhausted from the campaign. The bull knew the bear was on its last leg and staged a surprise attack on Thursday that threw the bear off so completely that it was unprepared to defend itself. The bear lost all territories gained for the week and failed to recover on Friday after a half-hearted attempt.
The bull has not only succeeded in climbing back above the weekly 79 & 89 MA and regained them as support, it also climbed above the daily 79 & 89 MAs as well on Friday.. Together with price being above all four MAs (5, 15, 79 & 89), there is a good odd of a continuing uptrend next week.
$DMRC had a solid up week confirming last week bullish engulfment candlestick bar as a highly probable bottom-formation pattern. The Walmart 22nd annual investors meeting summarized Walmart’s commitment to invest in technology to bring “fast and easy” shopping experience to customers when they shop in stores, online, mobile, or a combination of them. While Digimarc was not mentioned at the meeting, I can’t help but “concluded” that Digimarc invisible watermark technology is highly likely to be adopted by Walmart in its quest for new technology to make everything “fast and easy”. Don’t forget the fact that the Digimarc invisible watermark can contain more than just the barcode information. Due to its invisible nature, Walmart or any retailers adopting this technology can add additional information besides the barcode for their own purpose to increase efficiency without clustering the packaging design. The original presentation of barcode (in the rectangular white strip containing multiple black lines) has reached its end of long life cycle and must make way to new technology that allows a more direct “fast and easy” interface with the stores’ scanners as well as mobile phones currently proliferating globally. But despite my positive outlook on $DMRC, until the fat lady sings, I can only speculate on the increased possibility of adoption and invest according to my personal risk profile. I’d put my chips down and is now waiting for the sound of sweet voice to fill my ears (with my fingers crossed for good luck, of course).
Based on the upward momentum of the last two weeks, I say more and more people are betting that the fat lady will sing soon enough. The next resistance to take out is the $40.20 mark.
$AKAO did not do too well this week. It was struggling to recover from the bio-tech sell-off; but eventual catalyst is the trial result of its negative gram antibiotic medicine.
Let’s see if price can bounce off the support at $5.30.
$IBIO had an up week with a green spinning top bar. The fact price spiked up this week was what got me back into this speculative biotech stock. There are evidences that the ebola virus doesn’t just go away when the victims were supposedly cured months ago. While I don’t see an outbreak to happen anytime soon (which I hope not); I believe $IBIO has a vaccine technology (utilizing plants instead of animal organ or raw egg) that is much needed in our current time of unpredictable virus attacks. I’m adding this to my long-term hold.
This week green up bar came after last week doji bar. I’m seeing a possibility of a bottom-formation here. However, it needs to get over the overhead 79 & 89 MAs resistance.
$ONCY had a slightly lower red inside bar from last week doji bar. This is an extension of uncertainty but is still better than another big down week.
The possible looming of Nasdaq delisting is hanging over $ONCY head and it would be interesting to see what the company next act will be like. During the week, I reduced shares of $ONCY (at losses) to raise cash to buy $IBIO. So some of the delisting exposure had been transferred out.
$AMRN had another down week which was probably suffering the same biotech fallout as $AKAO. But what got me to unload more $AMRN to buy more $DMRC and $IBIO was that the weekly script# did not increase by leaps and bounds as I’d hoped. It is now stuck at 14,xxx since it went there four weeks ago. Not that I don’t believe in $AMRN anymore, I still do; it is that I see the probability of upward momentum is “better” in $DMRC and $IBIO comparing to $AMRN. I’m simply allocating my resources to the battlegrounds I feel have the better odd of winning in the near-term.
Price needs to get back above $2 soon to avoid getting stuck at the one-dollar land.
$BIOC did a good job maintaining a green bar amidst the fall-out from the biotech storm.
Price needs to head higher to take out $2.74 to avoid confirming the bearish engulfment bar two weeks ago.
$ARTH finally had a bouncing week off its $0.25 support level which also happened to be the Fib 61.8% retracement support level as well.
How well this bounce may continue will depend on update on the human trial. You will never know when the news will hit the wire. So, I’m holding my shares for the “eventual” announcement.
Overall, my port had another recovering week. So far so good.
Main port: DMRC, AKAO, IBIO, ONCY, AMRN, BIOC Trading port: ARTH
My 2 cents
From my camera (click on photo for enlarged version):
Categories: Daily trading Journal