INNT - Low float, no short interest data, former runner, history of failed spikes, recently likes to spike 2 days then red the next. Has an ATM offering and some irrelevant warrants. Fourth green day in a row, making new highs, but holding. Closed poorly today might finally be rolling over. Had 4 legs in its move here, up from the 5's definietely over-extended but surpising strength. Long top wick today on the daily chart, today with a bit more volume today, buyers may be exhausted by now, as it has been breaking multi-year highs. Still looking for an over-extended gap down similar to how it did on mar 6th for a potential short. Holding below res at 29.50ish, 27.62 next support, then 25.82 then 23.75ish. Higher price, but regardless not too much vol. Very rarely runs like this. Initial run off of some positive news but those catalysts have wore off as far as im concerned. A little illiquid so would be patient on short entries, wait for levels to confirm.
CDNA - 21 mil float, 25% short interest which is big. Former runner, Typically spikes for 1 day then is sideways the next, never seems to hold its gains on the day either. Earnings winner, recently spiked, broke thru 7.91-8.00 resistance level but couldnt hold, bumping up against that level today and yersterday. No ATM offering, has some warants in the 4's but i dont think they are having much an effect. Not a terrible long term chart. Held support in the low 7's the past couple days which is solid. Watching for a potential multi-frame b/o, on its second leg up, looking for a big first green day. Would be careful and wait for b/o to confirm because this has failed b/o's in the past. Next little bit of res at 8.35ish, then blue skys till the 10's.
MBII - 27 mil float, former runner, multi-day runner, multi-leg runner, 2nd green day in a row. No signs of topping yet, closed strong and above 2.30 res. Weak news, on its 3rd leg up, starting to get a little over-extended. Since it closed well today Tomorrow may not be the day it rolls over, so will likely wait for a first weak green day before a 1st red day short or if it starts to sprint and gets up to 2.81 resistance potential parabolic short. 2.45 little bit of res. Warrants at 1.91 and no ATM offering.
Overall Markets - Red. Strong morning, failed on the day. DJI back below 24K
Thank you for the analysis!
@cidguy your welcome!
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