We've seemed to have form a nice base around 9 | CRMD Message Board Posts

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Msg  41955 of 42499  at  12/1/2020 12:03:43 PM  by

eagle76


 In response to msg 41951 by  tm3912
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Re: We've seemed to have form a nice base around 9

 almost posted this yesterday:
 
historically, when a share price runs hot like CRMD recently did, when it gets extended off its Moving Average line, I fully expect to see the 2 of them get together, reunite themselves so to speak.
 
 Now with the MA line down around $7.5 and CRMD at $9 yesterday, I was kind of thinking it might take place around $8.5 +/- some cause the MA line is moving up faster while CRMD was wondering what to do next before some profit taking/consolidation of the run took place.   
   
 And of course, IF the share price drop picks up some momentum, then there will be a wrestling match as the MA and SP pass each other in different directions and then a period of time (if nothing happens to spark renewed buying) where they roll around each till they are in synch with each other...  (basing move)..
 
  So we see...  course with some Dec covered calls sold on the $9s, a pause sub $9 for a couple of weeks, or till OE day is ok with me, or at least close so I can close them out with gains and sell the Jan 10s (shares I don't care if I lose or not)
 
  my guess anyways based on whats going on NOW...  based on CURRENT conditions.. (smile)  so looking for $8.5 to $9, course, IF IBB/XBI take a drop, and drag down the bio sector (something they are kind of due for after a nice month of Nov run), it will be interesting to see if CRMD is starting to stand on its own 'merits'..


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