Finally figured how to insert a chart -- this is a daily chart for about the last 3 months including the close today. You can see the dotted horizontal line showing the resistance at 95 cents. This is the third episode in the last 2 months where the price action has bounced from 95 cents so it is pretty strong recent short term resistance. Short sellers would see this as a good ambush point by just looking at this chart..
The price is sitting above the 20 simple moving average (red) and the 50 sma (blue) so that is good because the 20, 50 and 200 (not on this chart) simple moving averages are pretty much the industry benchmarks for the short, medium and long term trends respectively.
You can see the bullish reversal candlestick signal (amber arrow) that I pointed out on Tuesday. You can also see why I am holding out for a break above 95 cents to add to my holdings - it is just a issue about playing the probabilities. It could rattle around below 95 for a while so I would rather wait.
If this stuff is irrelevant or old hat to you let me know and I will desist.
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DNA Price at posting:
93.0¢ Sentiment: Hold Disclosure: Held
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