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.