Remember Biosyent?

Biosyent was a stock I used to trade with a great deal of success as it moved sideways for quite some time, moving up and down from $10 and $11.

It has broken down.

It made a steady climb from under a buck to over $12. Anyone who got in early obviously did quite well. Just take a look at this chart.

I really liked trading this stock. I knew very little about the company, their products, management etc. It was just easy to trade, although volume wasn't very high.

This is a chart from last year that shows a nice sideways channel that was quite predicable.

This is what it looks like now

You can see that once it broke that $10 support level it fell pretty quickly, The more noticable dips accompanied by bigger than average volume.

It way settle somewhere again, but it looks like the game is over for now.

Checking in on Biosyent

I wrote this post on December 26 in which I outlined what I thought was a biosyent swing trade opportunity. I was right that it would break through resistance, wrong in thinking that it would go through some sideways movement before continuing up, it just continued up.

I exited today. Everyone has their stocks that they play, stocks which they have watched long enough that a certain variety of intuition begins to become clear and is truly a special feeling.

I have been posting more direct trades lately and should take a moment to make it clear that I am not, nor am I qualified to, giving financial or investment advice. Anything I write on here is merely a personal blog which tracks my personal investments, investment opinion (mostly related to the mining sector), and anything else I feel like posting.

Anyways...Updated chart.

Biosyent Trade Opportunity

Looks like there will be a swing opportunity here from the $10.20 range up to the $10.90/11.00 point. The stocks' sideways movement over the last three months has been range bound between ~$10 too $11 with a few quick and short lived breakouts from the R/S levels. The last break had greater longevity, which can be seen by the relatively longer and slower climb back up to the $10 mark. It has now broken through the R line, closing just a bit above its 50 DMA. I expect it to climb up towards the $11 dollar mark and bounce around in a sideways movemeent before breaking out and up.

Like I have stated before, I came along this company from PS Daves now defunct blog "Vancouver Venture" where he claimed it to be a pump job. I've had a number of successful trades with V.RX and hope that it keeps on giving.

Biosynt and possible quick penny flip.

Now, I do watch this stock and I have seen patterns, as anyone who watches and/or trades a particular stock for a while picks up on.

The stock dropped 59 cents (~5% drop) yesterday on quite only a few trades trades. Typically when I have seen this stock drop a significant amount in one day, the next day or two of trading normally sees a rebound of at least 10 cents and usually more.


Disclaimer: I will not be doing this because I am busy


Update!

Probably not a very difficult call, but it was true, today is the 6th, trading not over. But if you had bought when I posted, and sold right now, it would have indeed been a little penny flip.

Checking up on Biosynt and other TO Biotech stocks

I wrote up on this country in response to a PS Dave post where he bashed it as a pump and dump. Now, I never said it wasn;t but I looked at it more seriously then he did and really did think it had some potential.


I got in and out, but, have been checking up on it as I normally do with stocks that made me some money. Well, it has taken off. This is the chart when I first wrote about it




And this is how it looks now (without any Indicators as I don't need them to make my point here)

I've been looking at a number of medical/biotech companies lately,mostly based off of technical, although its not a bad area for me as it is more or less what I went to school for, but never did anything with.


I've been looking at T.GUD and T.PLI (this one I feel is good right now and can a quick buck can be made off a week long swing trade)

Biosyent Positings

Biosyent is a bio-science company trading on the venture exchange under the symbol RX.V


Don't know much about the company other than what a quick look at their website and financials can give. Didn't research management history, but...they seem to be making money.


Funny enough, this company was brought to my attention by a post by PS Dave over at vancouver venture (read the post here) where he writes the company off as a typical V pump job.


I looked at the chart and, regardless of what they are actually doing, doesn't mean you can't make a few bucks regardless.

Now, there are a couple things I take note of. First, stock is still far above its 50DMA and the 10 day looks to be re-crossing below the price.

Second, the volume has been highest at the same price point, roughly 2.25, which the price has recently bounced off.

RSI (I've chosen a length of 10) is well below 30 on a strong down turn indicating that the stock is oversold.


I'll be watching Monday and possibly Tuesday for some further confirmation.