Replies to post #77783 on Innovation Pharmaceuticals Inc (IPIX)

[incubus-now]

watched, enjoyed only.

[TheMonolith]

I'm usually an active trader, but think it is insane to sell even the trading portion of my CTIX holdings until somewhere above $5. The news on K has me thinking it might be closer to $10.

[Citrati]

Fast chart says no. Medium chart says no. I say no . lol
http://stockcharts.com/h-sc/ui?s=CTIX&p=D&yr=0&mn=2&dy=0&id=p53014721941
http://stockcharts.com/h-sc/ui?s=CTIX&p=D&b=5&g=0&id=p20833016058

The clincher. Common sense and coming news says no. ;-)

Great day and very nice close.

[I Need Help]

I imagine you saw what I saw today. Demand at the upper ranges of today's trade range ($3.30+). Smart money? Not sure myself. But, could be some fresh money is coming into play.

Looking at the trade, I think it likely that the PPS goes back to test recent highs. There should be (natural) resistance at this level. Still 5%+ to go before.

Not sure if most have observed what I have. Weakness has been more a product of weak demand (buying), not over supply (selling). This phenomena (weak demand) was one of the clues I used in determining that CTIX was ready for some consolidation, last week. Probably not a coincidence that CTIX was in overbought territory, that it had tested the high range and failed several times, and that volume was getting lighter (just before the minor correction/consolidation).

Volume means different things at different times. For instance, the drying up of volume at the end of a consolidation is a good thing (sellers are near finished). But, volume drying up at the end of a strong move higher is most likely bad news, as demand is slacking off. Big increases in volume (40% plus) can signal turnarounds. Just as candlesticks need to be interpreted in the context of dynamic trading, so too volume.

Liked the volume today. Like that stochastics are low. Like that CTIX is trading within Bollinger bands. Waiting to see how CTIX reacts when hitting resistance and in overbought territory. It's coming. Not today. The market will tell. Then, breakout or consolidation. Consolidation or correction.

Hope you noticed that during the long run from $1.60, I was not taken in by many of the short-term, head fake consolidations.

One also needs to put recent PPS activities in context. CTIX has a much higher market value than just a few months ago). Compared with today, trading a few months ago was much less risky (in price terms). Also, CTIX has been advancing its technologies, which has reduced risk. Then there is the shelf offering, and new COO (with compensations). Pluses and minuses, and will depend on one's perspective. My perspective, it's more positive.

Happy trails, I mean trading:

[streamingeagle88]

I did at $3.32. With reservations of course.

Close at the high is worrisome but volume wasn't striking. Suspect next big push related to B results.

Won't wait long to reload if funds available.