Another up day that smacked against the downtrend resistance line. Come on Bull! You can do it. One more up day and you are back home in bull territory.
It is important that the bear doesn’t take the ball back tomorrow.
$DMRC bounced again making a possible V-shape recovery.
From the daily chart above, I draw a possible Wave 3 of the Elliot Wave Theory. Per Elliot Wave Theory, wave 3 is usually the longest wave of the 5 waves.
$IBIO bounced again from the support at $0.65. Since I’m getting a better feel that iBio has a better odd of success than $AKAO due to the video presentation of Dr. Bostwick. I decided to peel off some $AKAO to buy more $IBIO today. Thus, IBio is now the 2nd largest position in my port.
What made today bounce special and different from previous bounces is that the momentum indicators below are now turning up from the bottom.
$AKAO was finally able to hold its gain today. Although I peeled off some $AKAO, I still have enough to make a good favorable impact if the trial is a success.
Price looks good for a continuing bounce from here.
$BIOC continued to bounce higher as well. Below is a compressed daily chart that provides a better sense of the long-term direction.
Notice that the downtrend line from March to September had been broken and the overall uptrend since February is still in force. See how the stochastic indicator is now coming out of a bottom layer to head back up.
$AMRN gave back gain before closing bell probably due to nervous hands getting out before earnings update tomorrow morning.
We will find out soon enough if price is going to break out of this consolidation range and head back up.
$ARTH is still stuck at the $0.20 area waiting for human trial; not much change here.
My port is slowly regaining lost ground.
Main port: DMRC, IBIO, AKAO, BIOC, AMRN Trading port: ARTH
My 2 cents.
From my camera (click on photo to see image at 100%)
Categories: Daily trading Journal