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I like that plan and it's one that just might save people a lot of money not just here but anywhere.
Not sure if it dips down to .175 early as the catalyst of the Tuesday numbers and conference call AH Tuesday should keep some buyers coming in but you never know! Just a little bit ago I was saying the same thing and I had some dry powder ready if they did take it down. But scaling in is a good idea and I like your basic plan you laid out.
Notice the support at .17 and the RSI level now down to 58.67 from 90. I think Friday signaled a reversal from that terrible Thursday and we have a little momentum going forward for next week. Good luck!
The gap in question was .003 and happened after they announced the LOI to buy a second location - basically doubling their business.
I really doubt they will take this stock down Monday A.M. with the results coming out on Tuesday but just in case I will have dry powder ready. (ALWAYS have dry powder ready!) My guess is the price action goes up early then it will find a place to grind before breaking higher.
Should retest .26 at some point this week.
RSI has cooled significantly and we got a small reversal Friday after a disastrous Thursday. I was happy to see the bottom was in the .16's - a little stair step up from the .12's it saw last week on the bottom. With the conference on Tuesday - I look for buying pressure the next couple days heading in.
Right now the driving force to head onto our next leg up will be the details of the new store expansion. There is an excitement in the air again and I think we are on our way back up again next week!!
The RSI is getting too high - ripe for a fall. Sitting at almost 90.
Be careful here.
With that said I love the future here and could be going much higher. I think there will be continued buying Monday but it could be a sell the news event coming on Tuesday. Keep an eye on the RSI!
Sure - thanks for breaking the good news. It looks like some buyers are stepping up to the plate now. This might be just what we needed!
I agree with Golden Cross - look for a green close by EOD.
Keep the faith! Today is a new day - let's put the investor conference behind us and move forward. Next catalyst should be the report on the expansion of the new store due by the end of the month.
Well if this dropped down to .02 wouldn't that count??
So does this mean that some of the people claiming there had to be a gap fill can be happy???
THE GAP HAS NOW BEEN FILLED!!!
Lost over 48k today on RXMD. You would think someone blew up the store or something......ugh - worst day stock trading ever for me.....ugh.
Whew - it got nasty today but we will be fine. I bought 208k from .20 to .204 about 10 mins ago. This will bounce back.
People dumped when they heard there would be no conference but that isn't a good reason to dump below support levels. This wasn't our day but we will be back. Good time to buy right now!
P.S. -- You can guess who dumped by who didn't post today. Thanks for the cheap ones!
If you watch Clay's charts he threw out there the support at .21.
Sure enough and not by accident the price dropped down to support level and bounced off it back up again.
Some will say that this is driven mainly by fundamentals and not charts but oftentimes charts can really give you a strong hints where the stock price is headed and good buying and selling points.
My vote would be for Nashville as well. Nashville is a town on the rise and Memphis has been on the decline for some time. If you are after the ghetto/slum thing then by all means Memphis is your place.
Today's action especially made for all the get-rich-quick folks thinking this was going straight to 1.00. YOU LOSE - THANKS FOR PLAYING.
A little patience folks.
Good info and an amazing looking chart. Longs have to feel good about this and I think this should retest that .26 level this week if not tomorrow.
OH MAN -- WHAT A GREAT SURPRISE!
Just got home to see my account bursting in cash today! Wow -- that' just awesome!
Same trading pattern as yesterday with higher highs and higher lows. I also suspect we get a higher close today but probably not as high as we thought earlier.
It's all good - we are slowly grinding higher.
Nice summary John. If you add your commentary to the growth projections the next couple years it really paints an optimistic picture here. What also makes me extremely bullish is the fact their net revenues for their single store are greater than the top 3 drug stores average - combined!
They clearly have a solid game plan in place. If I were one of the top drug store chains I would be paying significant attention here.
haha....very good. It's best not to feed the trolls but if you do it might as well be a taste of their own medicine!
exactly angeloh. So I get sooooooooo tired of the people who come on here and try to induce a panic because Clay did a video on us.
It's all good though. I think I would rather have a lot of eyes on us than not enough as was the case a few months ago!
Why is everyone so afraid of Claytrader? I am sure he gets a good laugh about it. I have seen him put up his charts 3-4 days in a row on a stock that gains daily. He selects stocks that have high volumes with a big run then says pretty much the same thing on each one. He is trying to get people to buy his product - actually he is very good at what he does.
He does not know a single thing about the company or what the news is he is just looking at it from a chart aspect. Charts can be very important but they don't always tell the whole story.
I would take that John. A little consolidation before we break higher. It does look like we are forming a base.
Good morning longs - good to see everyone out already.
This should be another great week heading into the conference. Things are definitely looking up with more good news coming by the end of the month. It's hard not to get excited about the future prospects here.
good post nd -- and that is one of the biggest challenges we investors face is the constant noise and trying to tune it out. It's not as easy as it seems!
Many good things you listed about this company - intriguing enough to really get excited about.......if you can just ignore the noise! lol.
Ah yes -- a little more drama to add to the mix. You gotta love this board! Hope to hear some good news soon!
I am not too worried about the shorts we have on here. I am convinced we will challenge the .26 high within the next couple weeks. The money inflow should really be coming in from the conference Thursday and that could continue into next week.
Even without the conference more and more investors are catching on what we have here. The news remains very good with continued good news for the future.
A reverse split can be a very good thing actually but it has to be done for the right reason. If it is done to stay compliant or for dilution purposes it is the absolute kiss of death and you can usually expect your investment to drop precipitously.
If it is done to get onto a larger exchange it can be a very good thing. This can attract outside investments, mutual funds etc. and money flows in. My very first stock I bought in 1983/1984 area was called Healthwatch trading at 12.5 cents a share. It did a reverse 1-10 split and immediately rose to over 5.00 a share before I sold it. That was a GOOD reverse split.
I see this doing the reverse split to get onto the larger exchange but I do not know if it is quite time for that yet. I would want to have the two years of audited financials complete (almost finished) and 4-5 stores and maybe shares at around .50. That way a 1-10 split would bring share price to around 5.00. My guess is the company needs a cash infusion to implement the rapid growth strategy.
This is a good time to be an investor here. It has just grown out of its infancy and about to enter stage 2 where it starts to expand. Big money can be made in this stage.
They will get their minds collectively blown that a stock with this much potential is trading for .17 cents! This isn't pumping up a worthless stock, this has a lot going for it as we all know.
All in all - a good week and this should set us up nicely for next week's wave action to challenge .26. The company continues to do well and this sets us up for Thursday's conference.
This is still a prime loading zone for the next run. You have to like this company's future an awful lot right now.
I am just happy we don't have to listen to the guy all day saying it's got to go down to .10 for a gap fill!! At least this kind of shut that guy up!! LOL
Welcome to the BOOMTOWN!!!
Just chewed through that wall - looks pretty strong heading into tomorrow!
yeah that has gotten absolutely blasted.
I think there was a ton of money all waiting down at the gap to fill and it got left behind because the train took off without it!
I got f--- blown up on that stupid stock as well as RNVA.
I just like this one a whole lot better for all the reasons everyone else does. If I am going pennystock - THIS is the one to go for!
Ahem -- I will take full credit for calling a retrace down to .13 (50 per cent retrace on the wave)
Although it went lower - I loaded right in that area and I think we retest that .26 again very soon - esp on news.
Serb - this is turning out to be an awesome day!!!
Thanks for keeping the faith! I had it down to a 50 per cent trace at .13 and I am SOOOOOOOOOOO glad I did not wait for a stupid gap fill lower.
Look at that daily chart - very well defined bowl shaped pattern! Very bullish!
Down over 30k earlier -- up 2k now!!!
What a day!
John you have been buying all day!! Are you getting in at various prices and accumulating or are you buying and selling.