Progressive Care Inc (RXMD)

[Decatsmeow]

I'm looking to see if I can find any patterns. Give me a few moments to find more information. Just taking a quick peek through some older technical analysis on RXMD. The most obvious lower resistance line is at 0.03 (or 0.0295) to be more precious. The next lower is 0.025 (0.0245). Over the past year, the 0.03 has been tested many times and has held well. The higher resistance line is 0.0365, then 0.045, then ~0.051. From October to now, it's very clear that we've been trading in between the two resistance points. Twice the lower 0.03 has been tested (via natural trading/closing bell) and twice the 0.036 has been tested. Bollinger bands have consolidated between these ranges as well, one being 0.0355 and the other being 0.028. Slope (trend) lines suggest that we should be at 0.08-0.10 (if trend continued.

It's also hard to say if we're in another Elliott Wave. I'd have to give it another 2 weeks to a month to see if we are or not.

I'd have to conclude that the stock is consolidated.

Source: http://www.investopedia.com/ask/answers/120414/how-do-i-identify-stock-under-consolidation.asp

The stock is within a certain price range, has low volume, and a fairly narrow (relatively speaking 0.030 -0.036).


I feel it is possible that we're waiting for the next big pattern to hit.