Looks like both agrresive and conservative stops would have been triggered without hitting the target.
Should I turn around now and open a long position or wait for the 2.5% above the open signal? Has not met the premarket active criteria but is currently trading over 100,000 shares already.
Another observation I have on LJPC is, it is currently trading above the 8 ma of the weekly,daily,hourly, and currently testing the 5 minute. 5 minute MACD at 0 and looks like it is about to cross upwards. 1 minute RSI(14) is near closer to the 0 level.
The 5 minute created a higher high above the 8 ma. I was watching the 1 minute pullback. It made a higher high - my signal to get in - better if this was 2.5% above the open. Should I bid at 5.69 and risk partial shares or buy at the offer? Let's see what happens if I buy 500 shares at the offer of 5.70 with a protective stop of 20 cents which is 5.50. Wishful thinking for a stock that doesn't have much movement right now is: Resistances that needs to be broken: 6.27 6.20 would be the 50 cent reward target for the 500 shares. 6.09 6.06 5.93 5.92 5.74 5.73
After looking more into LJPC, this is what I've observed. Including premarket information the Linear regressions midline is at 5.85 (where the premarket high bounced.) With a high of 5.85 and a low of 5.58, the 0.618 retracement is 5.75 (the price where the short should have been opened) The linear regression 1 standard deviation is currently at 5.49 The Fibonacci extention using 5.85,5.58,and 5.79 is at: 1.00 = 5.52 1.27 = 5.45 1.62 = 5.35 Suspected AX currently sitting at 5.54 and 6.00 Is it just better to shadow the AX's actions? The problem that I find with shadowing is, if the AX is good, we could still be shaken out. LJPC currently trading over 100,000 shares and is at least 2.5% below the open, and below the 15 minute range - shorts seem to be favoured more with this condition.
The 5 minute wolfewave that I was looking forward to didn't happen also. This is what occured today. Premarket high = 5.85 15 minute opening range: H = 5.75 L = 5.66 Daily Range: H = 5.79 L = 5.56 Looking forward to other trader's analysis on why LJPC used 5.79 as its high and 5.56 as its low.
Active in premarket with their previous day's high and low. Gainers: LJPC H=5.79 L=5.56 CYTR H= 3.92 L= 3.51 Losers: SOLF H=13.08 L= 12.21 IVAN H= 1.81 L= 1.74
SOLF had a refreshing bid with a 15 minute range breakout. 1 minute pulled back with a low RSI(14) close to the lower bollinger band. 1 minute downtrend broken. Would be in at 9.80 with a stop just below 9.70 note: Active in premarket trading at least 1000,000 shares currently still below 2.5% above the open