Wow! Look at the bounce! One more bar like that and the market will take out the resistance at the $211 level. I believe market is determined to make new high before the year is over.
Look at the momentum indicators below, they only just begin to turn up.
$DMRC corrected slightly but the overall price pattern for the last two weeks seemed to suggest a build-up of a base to support the next leg up.
A breakout of the $27.55 may kick off a stronger run in anticipation of the January Big Retail Show.
$IBIO took another hit on no news. As far as I’m concerned, it was probably some traders selling for tax loss, wait 30 days, and then buy back before the year is up for the 2016 1st quarter events. I’m holding my shares and wait out the turbulent water.
Notice price bounced off the support from August low.
$BIOC dropped a bit more but is still within the consolidation range of the last seven trading days.
Notice the momentum indicators below are still at the lower half of the range; so I believe a bounce may be coming soon.
$AKAO and $ARTH traded slightly higher but are still inside the trading range so there is not much to say here.
Recent ups and downs from no news don’t mean much to me ’cause I’m holding for the events to unfold to drive the price. These short-term fluctuations are simply noises generated by daytraders, swingtraders, short-sellers. or simply investors cashing out some for Black Friday bargain shopping.
Main port: DMRC, IBIO, BIOC, AKAO Trading port: ARTH
My 2 cents
From my camera (click on photo to see image at 100%)
Categories: trading journal