Zynex Inc. (ZYXI)

[UFO]

zoom, $ZYXI has one of the hardest charts there is to chart because it's mis-priced so badly from the get go. A better word might be under-priced. These are the kinds of charts that drive the Elliot Wave people crazy. We have 2 gaps underneath us. The big runaway gap between $.90 and $1.00 and yesterday's opening gap for just over a penny between $1.2385 and $1.25. My personal opinion, the runaway gap is bye-bye...never to be revisited. Something we'll talk fondly about in years to come. The little opening gap from yesterday? A little "back and fill" action there wouldn't harm the chart at all. There should be great support on this stock with any pullback, actually. People understand that because of poor exposure the stock is currently HORRIBLY under-priced and are taking advantage of backups. Just looking at previous day's price action, though, it looks like major support sits around $1.15. There were several days in a row, the 15th, 16th, 17th and 18th, that the stock had trouble breaking through that $1.15 level, so now that we're through it should serve as support below us. A final note on gaps. On VERY strong stocks, gaps occur many times in multiples. Not just 1 or 2, but sometimes 3,4,5 etc...over a period of time. Zynex may have more gaps higher in it's future until the stock becomes more fairly valued.

UFO