AI
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| Alias Born | 05/09/2013 |
Friday, July 29, 2016 12:33:13 PM
I decided to exit ORPN today (for a small profit) after I saw 1.70 level start to break down.
Ever since the 1.90's hit on Monday (while my original minimum target area has been 1.85+) it has been slowly breaking down all week ever since the highs Monday.
I tried to be as patient as possible looking for more upside, but it just isn't happening yet.
It is possible that this could still hold 1.53+ support lows from a few weeks ago, but I'm not going to stick around to see what happens, but instead take a small profit and move forward. This poses a high risk of dropping much lower again in the short term, so it is basically why I'm suggesting to exit this.
***I'm on the sidelines for the time being and will wait to see if another opportunity to enter lower happens on ORPN, along with soon looking at other stocks.
ORPN had earlier provided plenty of opportunity for good entry in 1.50's-1.60's area (with suggestion of 1.66 Limit entry) this weeks action, so anyone following should be able to scrape out with a profit or at least break even.
It's ironic how the LABU - biotech index has been tearing it up the last few weeks at the same time while ORPN has been sitting sideways with slight upside at the same time... Oh well---- that's trading.
Ever since the 1.90's hit on Monday (while my original minimum target area has been 1.85+) it has been slowly breaking down all week ever since the highs Monday.
I tried to be as patient as possible looking for more upside, but it just isn't happening yet.
It is possible that this could still hold 1.53+ support lows from a few weeks ago, but I'm not going to stick around to see what happens, but instead take a small profit and move forward. This poses a high risk of dropping much lower again in the short term, so it is basically why I'm suggesting to exit this.
***I'm on the sidelines for the time being and will wait to see if another opportunity to enter lower happens on ORPN, along with soon looking at other stocks.
ORPN had earlier provided plenty of opportunity for good entry in 1.50's-1.60's area (with suggestion of 1.66 Limit entry) this weeks action, so anyone following should be able to scrape out with a profit or at least break even.
It's ironic how the LABU - biotech index has been tearing it up the last few weeks at the same time while ORPN has been sitting sideways with slight upside at the same time... Oh well---- that's trading.
