jungem05
jungem05 Apr 11, 18 2:45 PM

ARGS would've been a good play this morning when news broke. Since the stock is only about 3 months old, there is really no long term technical support or resistance. The stock has also been down almost consistently since the IPO. Holding an Earnings winner overnight is a risky play these days. So i'm not sure where it could go from here. You might just wait until tomorrow and buy in on the new high/breakout. Or if there's a panic, wait for the bounce.

StephenR
StephenR Apr 11, 18 6:37 PM

Actually, this stock has been around since 2014. It underwent a reverse stock split of 1 for 20 back in January after it was beaten down for a year by an unfavorable FDA review of one of it's drugs in the pipeline. I've been long 9300 shares for a while now as a long term hold with an FDA update coming out this quarter.

jungem05
jungem05 Apr 12, 18 9:04 AM

thanks for the clarification. The broker I used only had data from Jan 2018.

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rebelliouswolf
rebelliouswolf Feb 17, 18 9:04 PM

what was the catalyst for the movement? first green day, news? just curious....

StephenR
StephenR Feb 17, 18 9:42 PM

No catalyst. Stocks don't always need a catalyst to make big intraday moves. Sometimes they just go through a technical breakout. For FTFT it bounced off the 200-day moving average for the last week or so and then showed a lot of strength into the close on 15 Feb. The next day it had a strong opening range breakout which my scanner (EquityFeed) picked up.

rebelliouswolf
rebelliouswolf Feb 17, 18 10:20 PM

i take it you got in on the quick pullback after the opening on the 16th?

StephenR
1
StephenR Feb 17, 18 10:37 PM

Yea, I think I got in this at around 935 or so. Generally, I don't take trades like this since I like the 30m chart but it was a gift.

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