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Allan Harris
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Allan Harris is an outspoken advocate for technical analysis via pattern recognition as the only effective methodology for making money trading the stock market. Allan has been involved in the markets for 40 years, starting as an options trader while attending law school in the late 1970's and... More
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  • CTIX 0 comments
    Oct 31, 2012 7:19 PM | about stocks: CTIX


    POSTED: October 31, 2012

    PUBLISHED IN: Market Analysis


    I was going to mention CTIX in today's Market Close Report…….but I forgot. Better late than never.

    A subscriber sent in an interesting TA chart today and in tandem with the Daily Trend Model does suggest a buying opportunity at hand. Certainly if you have yet to buy CTIX, this looks like a lower risk entry (note, "lower" as opposed to "low"). It may also be a good time to add more if you already have a core position. These smaller cap buy & hold biotech's all two things in common: Huge opportunity along with huge risk.

    (click to enlarge)

    CTIX Daily Trend Model

    (click to enlarge)

    2012-10-31 CTIX 6MonthDaily

    TAGS: CTIX, Daily Trend Model, Market Close Report, TA

    Disclosure: I am long OTCQB:CTIX.

    Stocks: CTIX
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