Market bounced back from yesterday down day and kept the upward momentum intact for the moment.
From the daily chart above, you can see that price is now in a mini-consolidation phase. I like to see price takes out the resistance above to continue the rally; otherwise, failure to break out of the resistance could result in a downdraft when profit-takers scramble for the door.
Today, except for $LRAD, every stocks in my port bounced as well. As a result, my port regained most of the give-back from yesterday.
$KNDI continued to maintain attitude near the top range of the consolidation box.
Price closed above the 5 MA line which is good. Let’s see if price can close higher than the consolidation range by tomorrow to close the week on a positive note.
$CERS bounced back half-way from yesterday down-day. Giving tomorrow is option expiration day, I’m sure there will be a struggle for the short to keep price from gaining higher than $7.50 which is the strike price for Feb call option.
Current holdings:
KNDI, LRAD, CERS, SEED, KGJI, MZOR, HALO (fully speculated).
From my other account:
$FITX looked good today.
Giving that the coming weekend is the open house event for investors to take a look at the facility at Lakeshore, Canada; I like to believe that many investors who spend the time and money to travel there will come out satisfy that the facility is the real deal. With a positive feedback, price may continue to climb slowly from here until the final permit is issued.
My 2 cents.
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