At first, I would like to express my appreciation on behalf of this thread for your effort bring the best stock in this web.cob world for our threaders attention.
Indeed, Biotech Holding Ltd +more 51% +70c to closed at day hi of $2.07 with more than $1. million shares volume.
chart.stockwatch.com
With NR Yesterday indicated that BIO.AL continues to develop that DIAB II drugs with Brazil and Argentina, Peru markets, and possibly in North Amrerica etc.
BIO had a NR on JUly 8,1999 announced it DIAN II drug in Brazil agreements etc, that NR moved BIO from lowest point .40c to $1.00 with 1/4 million volume, after more than one month correction, last three trading day BIO breakout with huge volume on the top side very impressively, since then it continues to move forward and upward, today even move 70c upward with more 1 million shares volume.
I would like this stock very much both fundamentally and technically.
However, it appears that BIO had moved a bit too fast for the last three days from that .95 to $2.07 at closed, day hi.
Look over the last 12 trading days BIO had moved from that .65c to $2.07.
This kind of huge movement is entitled some kind of profitaking to say the least.
Also notice that today trading BIO has a runaway gap at open, indicating she is very very bullish.
I would like to few thousasnd shares at near $1.42-1.49 ares which is the mid-point of this rally as computed below:
BIO had moved from .65 to $2.07 last 12 trading days a total of $1.42 gains
I compute the midpoint by using 50% retracement concept.
50% retracement of $1.42 total gains is .71
My buying point is $2.07 -$.71 =$1.36
As I said BIO demonstrated very bullishly both fundamentally and technically
I expect that runaway gap will not be closed so I am willing to grab few thousand shares at higher prices near that $1.50
Also notice that the minute chart indicating BIO display a bit toppy . It implies that profit aking will soon set in at any time due to huge move from .65 to $2.07.
Patience is key for this matter.
I would like to agree with may be month end $4.00.
However, I did not see they are ready to produce DIAB II drugs yet, all are still taking in the paper so I have good chance to get in.
Be patient and cautious.
Thanks again for bring this wonderful stock. I am sure that I will make some Canadian dollar out this play.
Good luck to you.
John Paquet |
