Organovo Holdings, Inc. (ONVO)

[WHP03]

100% Agree.... I watch the CCI closely. We're getting wedged into the ascending and descending trend lines. We almost touched the ascending support line today.

2 Yr support appears to be strong at $3.48ish, which is the closing price the day before the surprise secondary took us down to $2.48. Lower Bollinger Band is $3.44, which we've bounced off in the past during this uptrend from $2.48.

50DMA is converging with 200DMA. 2-DAY EMA has pulled away negatively from 8-DAY EMA, but the 2D typically snaps back to 8D when it diverges, positively or negatively.

Unless there is a major market melt-down post inauguration, or a major qtr over qtr revenue disappointment, IMO the ascending trend line remains intact. We may punch through it to the downside intraday, but I'll be surprised if we close below the ascending support line on back to back days.

In other words - barring a market meltdown the 50/200DMA cross coinciding with convergence with ascending trend line should make for some interesting fireworks.

But, you know what - no one including me has a crystal ball, and just when you think you have a handle on the trend, well, you know the rest.

So we wait and see....