I watching this stock since it was at 28$/share after lastc PR. Shorts should start covering very soon and buyers will be coming in before earnings august earnings report. I think 19-22$ in few week is absolutely real and smart target for swing traders. Like investment is not so bad too, looks like 30-35$ is OK for this stock this year if we will get support from markets. Happy trading Konstantin
I'm here - My thoughts on JRJC below. Also I like CELG you mentioned. Will ahve to look at others like CPO, etc. See below fopr commnets on JRJC action today (rather than its mid to long term prospects). ---
JRJC Action today/Volume/Resistance--- I think the lid for any up move in JRJC just short of $16.50. So far it has less than 10% of total volume for the day. At this point we should see 25% to 30% volume after a couple of hours (Note: normally in a normal trading week you expect to see approx one quarter to one third of trading volume in first hour).
In post holiday week overall volume is lower. At any rate, I would expect 400 to 500k or so of volume for JRJC in normal week and say 300k of volume by now in a slower low volume week like this week
So we need a significant ramp in volume over next couple of hours If JRJC was going to aggressively take out $16.50. Right now financials look weak, but if somehow we get good volume springing up in middle of day then my outlook might change.
Still we are at less than 200k of volume for a stock that trades around 1.4M daily. Not good if you want the stock to go up. So my take is that we are seeing some modest buying and some modest short covering and whenever it starts to approach $16.50 then we see some modest selling.
Hi Mike. JRJC is starting to look like a buy to me. I'm getting an itchy trigger finger. I bought and sold DUG today for a nice profit. What do you think about XLF? I dipped in and I'm down a little. Not sure if I should make a stand and build a position. Your opinions are appreciated. Thx.