Progressive Care Inc (fka RXMD)

[angeloh]

Thanks as always for your excellent analysis there Doc...
RXMD GOLD

Technical Analysis - RXMD annotated weekly chart.
1 - The RSI pulled back at the 70 line, like I said last week, and, bounced back up also exactly where I said(green trendline on the chart last week). Next week most probably it will break through the 70 line.

2 - The +DI pulled back to test the ADX line(white line) as support, once again exactly like I said last week. Next week it will bounce off of the ADX line, causing a violent up move(run).

3 - Again, like I said last week, the MA200 at .028 is now the main support, a rock solid support, and, the stock bounced exactly there. This week it will make a higher high, probably at .033 - .0030, and, will not touch there again.

This was my prediction last week(in bold). Compare with the chart, and, then let me know if T/A works or not with penny stocks. It works like a swiss watch. Prediction for next week: RXMD will make a LOW(Low Of the Week) at .028 or near, and, will bounce back up.

Prediction for next week: RXMD will make a LOW at .033 - .0030, and, will run to .044 - .054.

The only resistance until .054 is at .044, and, I am 99% sure it will be broken. I call a white(green) candle with a HOW between .042 and .054.

Weekly chart