Stock Trading Basics to Swing Trading

[LiveLife]

Rough day for the market.  HOM still closed in the green.

Will the market bounce tomorrow?

I will be looking at more mid-term stock charts tonight.

[nullzero]

Lifelive you have a position in HOM? Im currently still holding a position and was very pleased with the strong close even though the market was in the toilet today. Tomorrow if the market bounces, I would expect a nice gain for HOM.

[LiveLife]

nullzero, no.  If HOM continues to trend, should gain until RSI (14) hits 60, then may take profit as before.  Yes, nice gain for HOM this morning, but looks like the market dip took the afternoon down like many other stocks.

[LiveLife]

Would you consider buying RHEO after a huge drop on bad clinical trials data?

[rickjust]

hi,
bought at 4.05 this morning and sold at 5.03 i
knew it would be good for a morning pop. jumped out as soon as it hit 5,
maxi

[LiveLife]

Nice work rickjust.  A lot of people lost money today.  So, what will happen to RHEO with 1 year average of $7?

[LiveLife]

Continuing gain for HOM and rebound for GNBT.

HOM may look to profit taking as RSI (14) approaches 60 (that would be Monday) as it has around Jan 17.

Generally, stocks take profit as RSI approaches 70-80+. If HOM continues to gain past RSI 60, then look for profit taking as RSI approaches 70

[LiveLife]

Nice gains for HOM and GNBT this morning.

Current resistance for GNBT is $1.35 with support at $1.09.  For HOM, it is $5.68 and $4.82.

Perhaps we can look at TGB and GNTA to formulate an indicator for mid-term growth.  Short-term, These stocks are gaining due to recent good news.  If the gain is sustained, then we would have to figure out why a stock would gain as RSI rises above 70-80+.

[LiveLife]

Nice gain day for HOM and GNBT.  HOM did not break the resistance of $5.86 today, but stayed above the support of $4.82.  New resistance is $5.64 with support at $5.24.

Intraday volume of 1.1 mil was below average volume of 1.3 mil (3 month average).

If HOM continues to trend and gain, profit taking may not occur until RSI (14) hits 70-80+.  If not, look for profit taking soon.

[LiveLife]

GNBT broke the $1.35 resistance intraday and stayed above the support of $1.09.  New resistance at $1.46 with support at $1.18.  BTW, GNBT after hour trading is up to $1.36 and 52 week high is $1.51.

= FYI:  some traders will sell as stocks test the 52 week high and buy back after the break through =

GNBT had a nice gain with large volume (6.9 mil), which was almost twice the average volume of 3.4 mil.

RSI (14) is approaching 70, so start looking out for profit taking.  But as Feb 10th talk with FDA approaches, profit taking may be delayed.

[LiveLife]

As to formulating our mid-term swing trading template.  Both GNTA and TGB continues to gain with RSI (14) way above 70-80+.

Will the daily volume (double the average volume) be one of the indicators?

[LiveLife]

And what about stocks like INSM?  Would you consider "lining up" INSM for rebound?

And when will it rebound?  When RSI (14) hits 30?

[LiveLife]

A lot of pre-market activity for GNBT.  Anticipation of Feb 10th talk with FDA may drive up the price significantly.

Yesterday, resistance of $1.35 was broken.  Next resistance is at $1.46 with 52 week high of $1.51.

http://quotes.barchart.com/texpert.asp?sym=gnbt

= Update = Wow, resistance broken in the first 5 minutes of market open!!!

[LiveLife]

Wow, nice gain day for GNBT.  HOM fared well with a late rebound despite a generally down market day.

GNBT resistance was broken within the first 5 minutes of market open and set a new 52 week high of $1.54 and continued to gain in after hours trading to $1.61!    New resistance is at $1.64 with support at $1.34.  http://quotes.barchart.com/texpert.asp?sym=gnbt

As previously posted, as RSI is hitting 70-80, profit taking should be considered, but the anticipation of Februbary 10th talk with FDA may push the gain further.  Today's volume of 11.7 mil is way over the 3 month average volume of 3.4 mil!  Wow.

[LiveLife]

HOM recovered with a late rebound despite a generally down market day.  Resistance of $5.64 was not broken and new resistance is set at $5.65 and support at $5.23.  http://quotes.barchart.com/texpert.asp?sym=hom

Today's volume of 1.2 mil was less than 3 month average of 1.3 mil.

RSI (14) is flattening and may indicate profit taking tomorrow.