Progressive Care Inc (fka RXMD)

[Dr PennyStock]

Wise investing??? I strongly disagree.

Attention, I am not attacking in any way the person that sold, because he/she has the right to do with his/her money whatever he/she wants, and, nobody has the right to criticize him/her. I am sure he/she has very good motives to sell.

I am also not attacking you in any way, please understand. I am "attacking" your opinion, because IMO is completely wrong, and, I will support this statement with unquestionable facts.

From a technical analysis standpoint, selling now is an horrible investing decision, the worst possible.

The reason is simple. Both charts, daily and weekly, gave several buy, strong buy, and, very strong buy signals in the last days/weeks.

The daily chart gave nothing more nothing less than seven( 7 ) buy signals. Some "strong buy", and one "very strong buy" signal.

Look at the daily chart below. All the buy signals are signaled by green circles/ellipses.

1 - The RSI crossed the 50 line to the upside, the so called power zone or MOMO zone = buy signal

2 - The MA50 was broken. This is the second most stronger resistance in any chart, so = strong buy signal

3 - The PAR SAR was broken as resistance = buy signal

4 - At the same time the MA200 was broken. This is the strongest resistance in any chart, so = very strong buy signal

5 - The next was the MACD crossover = buy signal

6 - The +DI line crossing the -DI and ADX lines at once = strong buy signal

7 - The -DI line crossing the ADX line to downside = buy signal

The daily chart gives short term technical signals, since a few weeks upto 3 - 4 months.

Daily chart




But, this is not all. The weekly chart below has given also five( 5 ) buy signals. One of them is a "strong buy" signal.

1 - The PAR SAR was broken 7 weeks ago = buy signal

2 - Then it was time for the RSI, crossing the 50 line to upside = buy signal

3 - The MA50 was broken = strong buy signal

4 - The +DI line crossing the -DI line to the upside = buy signal

5 - The same +DI line crossing now the ADX line to the upside = strong buy signal

The weekly chart gives long term buy signals. We are talking about several months, or one - two years.

Weekly chart


Like you can see, both charts gave a total of twelve ( 12 ) buy signals. This is an incredible number of buy signals, very rarely seen in any stock.

All this above means that this stock is just beginning a big run, possibly similar to that one two years ago, since .0048 to .054. It means that we are talking about a similar run(with the same amplitude), or even bigger, from .01 - .012 to somewhere between .10 and .20.

So, like you see, selling now, when the run is just beginning, is a very bad decision.

The person whot sold the 2M shares, sold probably at an average price of .02, so he/she made $40,000.

The same shares at .10 = $200,000. At .20 = $400,000. This means that he/she is losing the possibility to make $160,00 - $360,000 in profits. A lot of money he/she or anyone selling now is letting on the table.

After all this above, do you still think that was a wise investing decision?

Disclosure: I trade penny stocks for a living since 1997 = 20 years. I've issued a buy recommendation to my paid subscribers, so I have an interest here, but, my opinion above is purely technical, based on Technical Analysis, like you can easily confirm.