As I mentioned before, I`m not a follower of the IBB(heavily weighted by top15/20 Big Pharma stocks). not a good indicator. I like to follow the BTK(biotech Index of whole sector). As far as the IBB, if bad news comes out about, ex. Gilead, all 20 Big Pharma takes a dive. BTK withstands a big hit. IBB fell and closed below the 200 Simple Moving Average for 3 days straight days before today, BTK bounced off and looks strong as does SYN
Double Doji w/Inside Day on low volume. Couldn`t ask for a better set-up.....w/MACD ready to be crossed....Inv.H&S perform better on downward sloping volume during pattern, vol. should triple on B/O day(2.82)
Buddy boy, you are completely wrong about me...I call them like I see them, diagram my calls for everyone to see them, make my income, 6 figures everyear, at home in my office. This is the 2nd time you referred to me as chicken maker, I have no idea what your talking about, only that you may be referring to a family member thats in the business. I believe we now know who`s the absolute goof. Aaa
Except for a few pennies, the diagram was PERFECT,as laid out for everyone to see on Monday night. The Formula stays intact the only piece to confirm is the B/O point which is as I said @ 2.82. Yesterdays candle was more than just a Long-Legged DOJI, it was a Rickshaw Man. And we all know what that means?
Who called this all most to the penny? A Fundamentalist? No, they were scrambling for the Answer. A Technical Analyst, well he did diagram it almost to perfection last night? Yeah I think it was the TA guy, yeah thats who!
Out all morning, missed the confirmation but did get 15k more @2.39. Averaged up though now at 2.01. I`m ready for the ride up.
Try to follow me on this: 1st this is not set in stone but today we got another piece of the puzzle, 2nd I`ll be using abbreviations that will be used in the Formula to get to the target. 3rd they are: LS=left shoulder, LNL=left neckline, H=head, RNL=right neckline, RS=right shoulder, BO=breakout.
OK, refresh, on 3/19 we hit 3.64 then the downtrend began we fell to 2.36(LS), next day rebounding to 2.75(LNL) only to continue dropping to 2.17(H) rebounding nicely to todays high 2.82(RNL) pulling back to 2.46 and closing at 2.57. All we need is that last piece(RS), 2.46 wasn`t it, I don`t believe, shoulders should be proportionate and close in distance to the head. Two things, if you look at the H(3/7) and count the days before when we formed the LNL & LS and count the same days after to form a proportionate,equal distance (RNL &RS) that was today 2.82(RNL) and tomorrow could complete the (RS). Again not set in stone but 2.36 could be hit intraday and then we charge back up to BO(2.82).
Formula: BO+(LNL-H) x 74%(.74)= next PT(3,25)
Yoda, no, I did look at todays chart thruout today and a clear H&S(bearish) formed and confirmed intraday. But there is a Inverted H&S nearly formed and after I finish paying The IRS their cut of my tax bill I`ll explain. 15 minutes, hear me out.
If I remember correctly didn`t CEO Riley mention in his Earnings CC that a company webcast would be held
simultaneously to Dr. Rhonda Voskuhls presentation?
Yoda, being specific matters to me. Head and Shoulders are bearish, Inverted Head and Shoulders( Bullish).. You were correct to an extent. but needed to be specific.
Non-chartist, cover your eyes so you don`t hear what I`m about to say. Saturday I talked about the possible Inverted Head and Shoulder, well its playing out perfectly, Not A Bad Thing. Hold Tight. I`ll throw out some numbers that changed from saturdays call, actually for the better. By the way what you saw today, shooting out of the gate to 2.82 and then falling thru todays low 2.40`s was predictable by the Head and Shoulder not Inverted) that was formed intraday, especially when we crossed 2.60`s on the way down. Well you know what, I`ll give the numbers later today, only remember my saturday posts. OK non-chartist, you can uncover now.
Except for todays markets, there was alot of skepticism in the markets "Whats Happening, I don`t understand, it has good fundamentals?" Well the markets were out of control, we all seen that with the 40% drop in SYN, we all know the fundamentals were good but "Why are we falling". When markets are out of control Technical Analysis comes into play. I use it all the time, its my compass(GPS) in navigating thru the Questions of where/why we are heading without just relying on Fundamentals. I believe there`s room for both. Non-chartists, you`ll sleep a lot easier at night using both.
Eli, took yesterday off, couldn`t resist the near 80`s temps and took a trip to checkout conditions at our shore Condo. They actually had more snow down there than we had and ours was brutal.
SYN still looking good compared to the rest of the market, we paid our dues. As far as next barriers, price now @2.54, we must keep above 50 day moving average(key). The SimpleMA(daily), ExponentialMA(daily), and EMA(weekly) vary, where the 50day(Sma daily) is the only one we are still below(2.59) once we we get out of the 2.50`s I see us completing the scratch phase (remember I mentioned scratch, crawl,then run). Next 2.66 to 2.75, we break thru here and I believe we see the 3`s+ going into AAN. !0 trading days until presentation #1.
Good Saturday Morning to all SYNners
Took the day off yesterday and still see us beating the overall markets. What a good feeling! Reading some of the posts it looks like some Negitivity has crept in. One thing I liked about this board was the positive vibes it always gave off, especially noticed, during this recent 40% pullback. The board stayed strong! We are believers in our future, believers in our companys pipeline and the milestones that are gonna be reached. KEEP STRONG!
Having said that, lets talk Head and Shoulders.What I see is an Inverted Head and Shoulders(Bullish). Gizmo maybe you can see this and anyone else looking at a chart. On the downtrend that started 3/20 we hit a 1st bottom on 3/28(@2.36)(LS) we then quickly rebounded the next day intraday to 2.75(Neckline) and then again quickly proceeded to fall to the 2.17 bottom(Head). The key word here is "Quickly". we are now forming the (RS). Yesterdays high(2.66) may have been the connecting neckline, we may see another drop to the 2.36 area completing the RS and then charge thru the neckline @2.66. Volume acting exactly as its supposed to in forming an INVERTED HEAD and SHOULDERS.
Don`t see it, shoulders must be proportionate, not lopsided. I know its getting late and my eyes heavy but I just don`t see it.