NTRZ - Retrace - Go Long
Symbol: NTRX
[X] Entry
Duration: Long Term
Direction: Go Long
NTRZ is in the bio-tech sector and after a big volume push up on 2/12 that served to break out of the consolidation range established since early December, we pulled back hard on word of more shares being offered to raise funds for further expansion.
I've written elsewhere about this same sort of situation with other strong stocks and I suspect this one is no different. These stocks seem to attract lower prices the day the offering is announced but then tend to climb steadily back to where they were prior to the offering in rather short order.
NTRZ did this on the day of the announcement climbing from down .40 on a $3.10 stock to down only .17 by the close. Tuesday we may see some early weakness and that will offer an opportunity to buy a bit more if it occurs. The breakout area of $2.70 should hold now given Friday's action.
[X] Entry
Duration: Long Term
Direction: Go Long
NTRZ is in the bio-tech sector and after a big volume push up on 2/12 that served to break out of the consolidation range established since early December, we pulled back hard on word of more shares being offered to raise funds for further expansion.
I've written elsewhere about this same sort of situation with other strong stocks and I suspect this one is no different. These stocks seem to attract lower prices the day the offering is announced but then tend to climb steadily back to where they were prior to the offering in rather short order.NTRZ did this on the day of the announcement climbing from down .40 on a $3.10 stock to down only .17 by the close. Tuesday we may see some early weakness and that will offer an opportunity to buy a bit more if it occurs. The breakout area of $2.70 should hold now given Friday's action.
posted by Tat | 8:20:00 PM
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