Online Trading

CTIC Cell Therapeutics Still Holding Above Blue Resistance Line

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There is not too much new to say about CTIC today other than the fact that it is still doing what it is supposed to do.  CTIC held above both the original blue longer term resistance line (which is now support) and it also held above the shorter term red minor trendline.  This is important … Read more

C Citigroup has an Outstanding Bullish Setup

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It seems I have spent so much time focusing on a lot of really cheap and speculative stocks here at BestOnlineTrades that I haven’t been able to see the forest for the trees.  Well I saw the whole forest today and Citigroup jumped right out at me.

Citigroup looks like a really good setup to me right now.  Even though it has already rallied the last few weeks we have closed on August 20th right at the previous resistance line.  The volume comparison between the two swings noted by the red arrows shows a decline of about 13%.  That may be a sign that we get a minor pull back tomorrow, but I think Citigroup is going to bust out topside from this 4.50 resistance level and head on towards the 6 to 6.50 range perhaps during the next few weeks.

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CTIC Cell Therapeutics Breaks Out on Substantial Volume

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CTIC had a nice confirmed breakout move with confirmed volume and sign of strength above the down trend resistance lines of its larger triangle formation today.  This is part 3b in a multipart series on CTIC.  I first started tracking CTIC when it was compressing into the apex of this triangle on August 15th, 2009.

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So far all systems are go on CTIC in my opinion.  The bombshell volume today and wide price spread is exactly what we wanted to see as confirmation of the beginnings of a breakout.  The price of CTIC did retrench at the end of the day but it still achieved a somewhat better than mid range close for the day. Not bad at all.

It appears that the price is starting to move in anticipation of that so called forward looking news event that may or may not occur on August 24th which is upcoming Monday. 

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CTIC Cell Therapeutics Part 2

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I am looking at the yahoo finance page for CTIC right now and I see that the DJIA was down 2% today and the Nasdaq was down 2.75% today.  But CTIC closed at 1.57 only a penny down from yesterday and for practical purposes basically unchanged.

I am not posting a new chart of CTIC in this post because the action today was for the most part motionless.  The fact that CTIC was so tame today should speak volumes by itself given the minor beating the broad market took today. 

I realize I am only focusing on one day’s price action but it is still important in my opinion.  CTIC could have taken a beating today, but it didn’t.  Holders of CTIC stock were not willing to part with their shares today and so it is hinting to me that the shares are in strong hands.

We are still in the apex of the symmetrical triangle formation and we have not made any significant moves either to the upside or downside to warrant any kind of real signal.

So this ‘part 2’ on CTIC is basically just to point out the internal strength that appears to be present in CTIC despite the broad market weakness.

The August 24th date I mentioned previously with regard to CTIC has to do with the FDA making a fast track decision for one of CTIC’s drugs.  I cannot confirm this date or if any decision will even occur on that date.  So for now I am going to ignore that date and just keep it in the back of my mind. 

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A Couple Quick Mentions of ANPI and EPEX

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Someone sent me a quick mention of ANPI in the submit news link at the top of the site here.  They indicated that the pattern was similar to the CTIC stock setup that I mentioned yesterday.  I just wanted to be sure to pass this info on to you and only make a few quick comments.

My quick take on ANPI is that yes it is similar, but for now I still think that CTIC has the stronger pattern and a cleaner pattern.  ANPI at first glance seems to have had a larger retracement and a somewhat more scattered triangle.  Anyway, no in depth analysis here but wanted to pass this info.  Maybe I will do a short write up of ANPI this week if it has merit.

I believe the same person also reminded me that EPEX was beginning to break out of pattern that I had written about before.

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Nasdaq QQQ Blasts Higher today on Robust Volume

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The move today in the QQQ was pretty impressive.  It was impressive in the sense that the bears should have been able to break under the green shaded rectangle and get the much awaited correction going, but the exact opposite ended up happening.  The upside volume was 137 million shares and is a solid way to get a bounce going inside that rectangle. 

This rectangle is depicting internal market strength once again to me and hinting at an eventual possible breakout above this rectangle to towards the 41.5 level which is right at the point of the long term bear market resistance line.  Perhaps we get a retracement the next could of days and then a breakout out of this rectangle next week sometime?

It is almost mind boggling that we are getting this strong price advance and this robust volume at this point in August.  It would seem that traders are in no mood to hit the beach this year.  They would rather be in front of their computer screens. Hmm.

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CTIC Cell Therapeutics May Start a Run Soon

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It is quite amazing that CTIC has had such a huge run from a beginning price of about .05 cents.  It has been an astounding run.  I was not smart enough to highlight it at .05, but that is a mute point now.  The fact is that CTIC has shown a huge sign of strength in the run from .05 to slightly above 2.00. 

But if you look at the chart carefully, you can see that CTIC has a certain trading personality and unique trading style that is important to take note of.

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