AMGN was an earnings gap with
a wide opening range, followed by a bullish inside bar. I entered on
break of
ORH. Place the Fib
onacci extension from the previous day low (blue line) to the 15 min.
ORH. Price rallied to the 62% extension where I
partialed out. The inside
doji bar had a bearish feel and I folded.
CELG, another
biotech looks like it wants to breakout at $58.00. Notice the frequency of the pivots into that price level as indicated by the blue arrows. Keep it on the
WL for tomorrow. I see a prelim. target at the round number $60.00.
FFIV gapped up and looked like it was getting ready to move above the blue line segment after a
NRIB, but it rolled over, setting up a low risk short. Here I place the Fib.
retracement lines from the previous day low to the
ORH. Look for setups near the the Fib. lines in
conjunction with proximity to the 5 period EMA. I exited the short as price approached the 50%
retracement level.
