AI
Golden Cross coming next week (blue 50 day moving average crosses the slower moving, red 200 day moving average)! This is one of the strongest bullish indicators used in technical analyses. We’re also still in breakout mode with the chart riding the upper Bollinger band for guidance. Additionally the MACD is positive and the Accumulation/Distribution line at the bottom has finally uptrended enough to confirm a trend reversal, meaning buyers are starting to accumulate and hold their shares instead of dumping them on the Market Makers. This tells me that the market is starting to be taken over by longs instead of flippers, which is very important for sustained growth. The Parabolic SAR (not pictured) is still holding a “buy” indicator.
The only concern with the chart is that its pretty top heavy right now; the RSI sitting right below 70 meaning the stock is over bought. With that said, if we get FDA approval news next week then it’ll blow this chart open and we’ll enter what’s called the “power zone.” This is when the RSI shoots past 70 into the 80’s, thus breaking the RSI 70 resistance. Some of you probably remember from when we first started trading this at $1.20 that the most exciting aspect of the chart are the “gaps” we were hoping to fill. The chart has just finished filling the first gap from early March with this latest uptrend, which is a major development because we’ll now be ready to potentially take on the biggest gap if the FDA approves 510(k) filing. This gap I’m referring to is on the left of the chart, from roughly $3 to $4.75.
Fingers crossed for good news next week!
The only concern with the chart is that its pretty top heavy right now; the RSI sitting right below 70 meaning the stock is over bought. With that said, if we get FDA approval news next week then it’ll blow this chart open and we’ll enter what’s called the “power zone.” This is when the RSI shoots past 70 into the 80’s, thus breaking the RSI 70 resistance. Some of you probably remember from when we first started trading this at $1.20 that the most exciting aspect of the chart are the “gaps” we were hoping to fill. The chart has just finished filling the first gap from early March with this latest uptrend, which is a major development because we’ll now be ready to potentially take on the biggest gap if the FDA approves 510(k) filing. This gap I’m referring to is on the left of the chart, from roughly $3 to $4.75.
Fingers crossed for good news next week!
Do your own DD and do not trust anything without verifying it yourself.
