Let study further BIO.al price movement as follows:
chart.stockwatch
also quote.yahoo.com
Look at yesterday trading behavior, BIO indeed is in correction mode as it opened a big gap up then the gap got closed immediately, indicating speculation is bubbling and burst then it went down more than 70c at a time and hit my computation target of $1.36 right @$1.35 then BIO started to move back up, [note this kind of up and down, is trader's heaven, profits resources, you see] look at the volume more than 1.4 mil traded,
Today is a correction of yesterday huge down move, in a sense is a correction of a correction, sounds confusing yahah!!!
Bio last 13days had a huge move from .65 to $2.35, then it entered correction mode, and these correction would last three weeks or more so lots of time to wait and see and make a trade,
I expect that BIO will go down to that $1.00 as no solid figure to back up this huge move, market certainly will demand some solid data or some proof to justify this huge gains or else, that will be the end of this play to say the least.
John Paquet |
