Here’s One Reason ‘Nano’ Stocks Might Be Reversing
On days when the Street is
sitting on its proverbial thumbs, I don’t
mind joining them as volume levels drop and the intraday ‘$@$#
and wiggles’ make for less-than-ideal intraday trading.
If I do find an interesting setup, its usually geared towards something
‘smaller’, and out of the ‘big boys’ hands–as momentum doesn’t usually seem to
care nearly as much about Uncle Al as his relatives on Wall Street do.
10:12:47
Daily Chart Reversal Zone Alert
Nanogen (NGEN)
is looking like a potential daily chart reversal candidate–up .44 at 5.84.
The issue is still inside yesterday’s range, which, at session lows tested prior
consolidation supports, a 127% price projection from its January highs, as well
as a 78% Fibonacci retracement from the November lows.
I don’t know about you, but sometimes it’s the
‘tiniest, little things’ that seem to make the most ‘cents.’