Progressive Care Inc (fka RXMD)

[undtrdr]

$RXMD Weekly Chart

First thing that stands out is with a heavy float of 3hundredhowevermanywhoknows?MILLION is it seems to take a minimum of twice the volume per week compared to what we have been seeing this year in order to gain any upward traction
I suppose a big factor in that is how many new shares are entering the float on any given week. An example the week of Aug 29th saw decent volume of 15M+ yet the pps still only saw a range of .027 - .034

Regardless the lack of volume the past 6 months is the biggest factor resulting in the downward pressure we see in the stock .. share count is just too heavy(ierbytheday)
Every rally is just a lower high
10 Week MA crossed down over 50 Week MA 2 months ago (final kicker) and the 20 Week MA after leveling off for some sideways churn has now resumed it's path downward with the rest of the MA's
Can't see the 200 Week MA on this chart it was left behind currently up @ .056 and has not been touched since 2013 which was before the Popsicle stand took over this ticker
RSI has struggled to conquer let alone sustain 50 since June
MACD & OBV - one word - sadshape
ADX perking up but that indicator measures the strength of the trend ...with the red line on top what we have here a is a strengthening down trend

http://stockcharts.com/h-sc/ui?s=RXMD&p=W&yr=1&mn=0&dy=0&id=p29421446548&a=508583377

Cheers & GLTA!