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Biotech / Medical : Arena Pharmaceuticals (ARNA)
ARNA 99.990.0%Mar 15 5:00 PM EST
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To: Biotech Jim who wrote (1986)11/25/2013 12:20:37 PM
From: wolfgangrene   of 2274
 
Yes, I picked up OREX on a scan about the 3rd week in Oct., but I like to see the ADX reach 50 before getting in.
The odds are higher of a real reversal with an ADX over 50. But sometimes charts do what OREX did and turn early and it's for real.
I use the fibs on everything, including sell points. Also for projecting targets. Fib lines really organize the way you look at a chart. Prices do like to coagulate around those lines and they make it easy to visualize proportions of price movement.
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