Upward Trend in NASDAQ:ABIO ARCA biopharma, Inc – My Strategy Hold & Watch
After going into deep spirals,NASDAQ:ABIO seems to be trending upwards. It crossed 5.4$ mark yesterday after almost a week. I am holding on the side lines for it to cross 5.4$ to stock up more of these quickly. The rally seems to be the effect of their recent funding round. Details on that can be found from ABIO secures 6.8 million dollars in market offering of common stocks.
I think today it will see heavy trading volume as day traders try to get in the early bull rally. Although I would not be surprised if it dips a little bit during late afternoon. So the mantra is to hold and watch!!
Staying in this stock for long is a good idea I think if you want to play safe. But if you are looking to quickly move around, sell as it cross ~8 mark or wait till 9 if you are an extra risk taker.
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