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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts
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To: skier31 who wrote (88023)10/10/2024 1:27:12 PM
From: Sun Tzu1 Recommendation

Recommended By
skier31

   of 96944
 
Sorry - I am multitasking and just realized what post you were replying to. My answer doesn't change much, but there are a couple of things to add:

CMMB is a pre-clinical stage biotech. So there is no business cycle for them to speak of. I thought you were talking about my MU chart. That one does have a business cycle and I had picked parameters to match the cycle. That doesn't work for something like CMMB.

Nonetheless, the trade I engaged in on CMMB is counter trend anticipation. It is very oversold on both parameters, but it is still on an uptrend (per the blue line). Given the jumpiness in biotechs, it is a worthwhile risk/reward for me because my stoploss is only a little lower. Because it is in an uptrend and oversold on both parameters, I'd rather be early than late.

There is a stoploss here that will trigger another buy point further down, but that will be the last one. Beyond that the uptrend is likely broken and I will reassess.
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