I like Juno Therapeutics Inc (JUNO) – $31.32

I’ve been monitoring JUNO for some time now. A few things about JUNO:

  • Current closing price $31.32 (9/21/16)
  • Traded @ about $58 less than a year ago (December 2015)
  • At current stock price a $3.38 billion company

And some technical notes:

  • Has a bit of a “summer 2016” double bottom at $27.50 (hit $27.15 in July and $27.75 in September).
  • Shattered through the 50 day moving average (currently $30.64)
  • RSI crossover above the 50 line and pointed up
  • 50 day moving average (data going back to mid-July) is starting to trend/point upwards as those sub-30 end of July numbers disappear and are replaced with +30 data
  • +MACD crossover

capture

The problem is, with $210 added weekly to my account (see main page if you are newly reading this), and me just starting, I can only afford about 10 shares….In my opinion at this price level a double over the next year (or close to it) is possible…So a double is still a double whether you invest $200 or $200,000…..And I could look to trading options, but it may not be liquid enough (or move fast enough to beat time decay). Anyways, I may pick up 10-30 shares over the next few weeks to begin my long-term trading….

In closing, I am NOT OPTIMISTIC about where the markets are heading…But so far a correction has yet to occur…and JUNO has been annihilated over the past year. It’s a good bottom finder in my humble opinion.

Look up at the chart and see how many times the 50 day moving average (blue line) smacked down the share price (end of July before huge drop….all throughout end of August)…and now…a breakthrough!

 

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