Yesterday, I had posted an article on Long & Short Investment about 3 Beaten Down Stocks Ready For Reversal. In this article, I had covered ULURU pharmaceutical company as a potential Buy. I took a more careful examination of this stock today and I noticed a cycle that I wanted to share with my readers. Check out the 1 year chart below.
First of all, the low seems to be occurring every 4 months as signified by red circles. If this cycle continues, then the next low would occur in mid-March time-frame, which is 1 months away. Second, the high seems to be occurring every 4 months as well assuming the highs occur with the high volume support as marked by purple rectangle. If this cycle continues, then the next high would occur sometime in May.
Investment Strategy:
I do not recommend buying ULU at this time. I would wait until sometime in March. If the low cycle continues , we will see another low at around $0.10. I recommend buying at this price in March
I do not recommend buying ULU at this time. I would wait until sometime in March. If the low cycle continues , we will see another low at around $0.10. I recommend buying at this price in March
Exit Strategy:
Once we take position on ULU, I recommend exiting the position sometime in May. If the high cycle continues, we will see another high at around $0.30. We should also see corresponding heavy volume as ULU price increases to $0.30. I recommend selling at this price in May.
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