Just as I had fear, a red bar at the resistance line is a red flag for a potential correction. But then the price is still above the 5 MA line which is bullish.
Let’s see if the bull can walk over the resistance line tomorrow and continue onward.
$DMRC took a break after bouncing two days straight.
So far, it is still on track to follow the V-shape recovery. It’s about two months to 2016 Retail Big Show in January. I wonder who will be sharing the booth with Digimarc this time giving that the booth is now 3x bigger than last year.
$IBIO is waking up! Sooner or later, someone will start paying attention to iBio Phase I trial on fibrosis in the 1st quarter of 2016. I’m excited about this one ’cause Dr. Bostwick, in her video presentation, confirmed that her accidental discovery was able to reverse fibrosis on human skin. Her confidence on her discovery is quite revealing.
Now, price just needs to jump over the 79 & 89 resistances and rally from there. Btw, I sold the rest of my $AMRN today and used the proceed to add more $IBIO as well as $BIOC. I got the impression from the Amarin earnings update that it is going to take a bit longer to get doctors to understand the benefits of Vascepa to patients with 200-499 trig level even with the available Anchor study. Amarin’s management also declared that Reduce-it trial will most likely continue on to completion instead of a possible stopping the trial next year. Thus, I’m seeing faster result with the iBio Phase I trial in the near term; hence my allocating more fund to iBio.
$BIOC continued onward but bounced off the downtrend line.
Price needs to take out this overhead resistance before the bear reclaims the momentum.
$ARTH and $AKAO continued to hold their gournd at the current trading range which is good.
Main port: DMRC, IBIO, AKAO, BIOC Trading port: ARTH
My 2 cents
From my camera (click on photo to see image at 100%)
Categories: Daily trading Journal