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Been awhile since I've posted on iHub, or looked at penny stocks in general. The NTEK chart is compelling, however. I bought a 4k TV to utilize as a monitor, and that reminded me of this company. I typed in the ticker symbol and saw the chart and immediately knew this was a damn good buy right now (the intuition was confirmed with further chart analysis). I'm not a pump-artist. Know your risk before you calculate your reward. The risk is the recent lows. The chart has been coiling / inching upward ever since. I would prefer not to see anything lower than .0366, which is the 50% retracement of the move up since the low.
I don't pay mind to much of the chatter around the boards, and neither should you, unless it gives you some form of entertainment. Anyway, good luck to everyone. I've been loading NTEK shares a small bit at a time for the past week.
Daily candle for the market is an doji indecision candle, and it's occurring right at the fib zone. It's gotta break one way or the other soon. My gut says upward but it's not a strong enough feeling for me to go long the sp500. I snagged a few shares of ONVO this morning but am keeping stops tight just incase.
I was surprised after doing my nightly analysis. Quite literally almost every stock and index (sp500 + russell) had strong moves downward that landed Precisely on fib confluence zones, including ONVO. I've not seen anything like this before. Having said that, I kind of take back my previous post, because if I see strength across ONVO and the indices in the AM or premarket, I am def gonna buy in.
For what it's worth, I figured things would be lookin ugly to end the week across the board but I have changed my expectation completely. Am ready to short the market should it break downward as well, cause it should be strong movement whichever direction market break. Will be very surprised to see sideways movement tomo.
SA article was exquisitely timed IMO. From an Elliott wave perspective the recent rally was simply a correction to the very large fall that occurred awhile back. This should be the last swing downward before moving towards highs.
No saying how long it will consolidate once it reaches a bottom, and pretty difficult to gauge a bottom, but IMO I wouldn't risk trying to catch a falling knife here. To each his own, of course, and wish you luck!
Good stuff. I got out for now I want to see it cross $5.60 with strength. I have a feeling it's going to be dropped down towards that gap a good bit below [I do not expect it to fill though]. Hopefully this doesn't occur, in which case I'll hop back in sooner rather than later. Good luck!
That break is huge. Not only is it a 52 week high, but:
The weekly volume last week was the greatest it has ever been in the history of the chart. (!!)
The 52 week high break is the first significant higher high since the drop that began in 2004. It is easy to see this on a weekly chart.
IMO this chart is extremely underrated and those of us who have shares + will be getting shares in the coming days will be in a good position. I'm fully expecting a significant run here through December 17th.
Very curious to see price action this week - I will certainly take advantage of dips should there be any - but based on the volume it's clear big money is here to play, and my hopeful guess is there won't be significant selling pressure until news hits.
In with 4000 shares @ $5.34
Feel good about this entry point. Time to let this one ride. That seeking alpha article that was released was no coincidence. This stock is ready to move technically speaking, and the timing of the article is one of perfection. Don't think that was an accident.
in @ $3.23
Chart is holding up very strong. I'm in @ $6.75. Will not be surprised to see a retracement down towards there, but it's been holding very steady at the current level, which is a very good sign IMO. Looks like slow and steady accumulation going on.
Take that back. May reverse right now. If not, looking at $1.49 - $1.51.
Would like to see it find a reversal point around $1.51 to $1.53. Gonna load the ship there if it proves to be a potent reversal point.
Very excited to be in this stock. I got in at $1.19. The chart looks extremely bullish and I don't think we will see much of a retracement without moving up towards mid $1.50's first.
Sure wish I got in this stock yesterday. Funny thing - I randomly thought of this stock last night, and saw the chart and immediately put it on my watchlist for today. Imagine my surprise seeing the open @ +40%. Couldn't help but kick myself a little, but I think my entry will be just fine.
Reading the transcript of the conference call confirmed and reconfirmed my decision to buy in.
This looks like a monster about ready to wake up. I'll be looking to get in tomorrow.
Wicked, wicked chart. 25 million float. Count me in tomorrow if things are lookin good.
How about you buy in very slowly? You say that now but chances are when the stock starts climbing and it keeps going up you will repeat your mistake and buy in right when it's about to dip. It will be too tempting to not buy in.
Goodness what a buy opportunity. Looking for a bottom around $7.88 - we're going to be in for one helluva a bounce up in the coming days IMO.
Also, that's not to say I believe ONVO is going to stay down here for long. The algorithmic machines act quickly and decisively. It's critical to be aware of support levels.
A reversal should be fairly swift once the market settles. I would recommend people to watch the SPX if they're curious about ONVO price action. I'm expecting the SPX to bottom at $1784 for now.
Also, that's not to say I believe ONVO is going to stay down here for long. The algorithmic machines act quickly and decisively. It's critical to be aware of support levels.
A reversal should be fairly swift once the market settles. I would recommend people to watch the SPX if they're curious about ONVO price action. I'm expecting the SPX to bottom at $1784 for now.
I agree... I was not talking about profit taking here. Solar and 3d have had a great year, and the whole market is overextended. It only makes sense that once the market begins correcting a little bit that solar and 3d suffer more so than other sectors.
When a stock like ONVO is tracking the SPX as accurately as is, but the moves being greater in magnitude, I interpret that as funds classifying ONVO as risky [and rightly so], so their trading machines will be trading aggressively to minimize risk, especially as support levels are broken.
I do not believe we are seeing profit taking at all here. This is simply risk management. The entire market is hugely over extended, so one can expect big money to be allocating their investments accordingly.
Price action is also tracking the SPX extremely accurately. I have not seen ONVO track the SPX this accurately in the past. I believe this is a sign of some of the funds that have become active here. Looks like the algorithmic machines are trading away. Most definitely do not think this is purely a human sell off. SA article be damned - large funds won't care what people are saying on SA IMO.
Blood bath today. I exited my position at a loss. May have been premature but I do not test it when price action plows through key fib levels. Next stop is low to mid 8's. Going to load the boat there now.
Just bought my largest ONVO position yet.
No problem! Feel free to leave comments on there to let me know if there's something you'd like me to elaborate on regarding TA or anything else. It's important for me to share knowledge. I'd be no where if people didn't.
Here is my personal website. It's ad-free and is just a blog of mine that I keep. I made a post last night on the market and also ONVO. There are images and some commentary regarding price action. You may find it of interest, as my TA is definitely on the detailed side of things.
http://www.candlemechanic.com/2013/11/market-update-onvo.html
ONVO is second half of the post.
Thing of beauty :)
Agree, the volume has been very significant and there has clearly been profit taking all the way up. IMO this parabolic rise is a relatively healthy one compared to some that are met with an equally volatile pullback. I get the vibe that this is still relatively early in the ONVO chart especially for those who are holding long. This thing is just beginning to get attention.
Good stuff. You've traded this very well. I'm still getting experience under my belt and indeed ONVO has taught me many lessons. The biggest one being save short-term trading for well established stocks trading for > $20 and likewise to treat gems like ONVO with a certain level of respect and trade them with significant patience and diligence. Thanks for those recommendations, I'm going to have to check those out.
I like the chart here. I'm already positioned in a little bit and sitting in the green, but looking for a strong move up from here. Fairly tight stop loss.
Well, had to add some @ $11.22-$11.23, my last add ons.
More buy orders stacked from $11.42 to $11.57 here. I like your stop, will keep one right around there as well.
ONVO doing it's thing :)
Congrats to longs. I really wish I established a core position here with ONVO, but I'm not going to complain. I'm solidly green, and hope many of you are as well!
Excellent. Thanks. Indeed volume looked quite favorable today and intraday trading definitely had a different feel today.
Lol I was buying those shares in 500 blocks all the way down to $7.35. Was glad ONVO caught my eye in after hours.
No idea. It is certainly a little odd. I was ready for $7.35ish, but the fact we hit $7.20 does not sit well with me. I've been snatching up some shares no doubt. Whoever is selling these shares seems fairly careless. Not sure what to think of it.
It is indeed shocking - but interestingly enough the chart is abiding by Elliott Wave patterns extremely well (indeed this downward move could have been seen coming by many Ellioticians but I failed to see it).
No one knows why Elliott wave patterns work, but there is a good bit of science behind it. Putting that aside, one thing I can imagine that happen here is a fund or two probably had very large positions, and in order for them to take profits they needed to sell into an influx of retail investors.
Based on the wave patterns we are nearly through with this move. I will not be surprised if it heads lower for today, but come tomorrow or early next week we should move up with good strength IMO.
Def plan to daytrade this thing tomo, am excited. First large IPO for me.
This should run pretty good tomorrow. Locked and loaded here :]
Yes indeed. Great day today, good to see volume pouring in. Don't think this has much attention at all on it yet though, looking forward to when it does :)
This company has some serious potential, and has made pretty bold claims in their recent webcast. They claim to have the highest degree of control as far as genetic expression goes, and claim thus far this has shown true in 100% of patients and animal models. One of their biologic drugs show profound systemic toxicity but the process can be shut off very rapidly and patients recover very quickly from this. I suppose the idea is to introduce the drug locally [i.e. directly on the cancerous tissues], and to shut off the toxic process as it begins spreading systemically.
This is certainly worthy because if what they say is true [and I have no reason to doubt it], then they are the first company to have found a method that alters genetic expression in a very precise and controlled manner. This is definitely cutting edge stuff.
As far as the chart goes, I'm expecting a retracement soon enough, and I will definitely be trading this stock actively in the coming weeks.