Progressive Care Inc (RXMD)

[Dr PennyStock]

Technical Analysis - RXMD annotated daily chart.

1 - The RSI is still overbought, but, like on last week, still has room to run, because the top is at 100. Like I predicted last week, the RSI dropped from around 86 to 73, to gain momentum to break the .1 resistance. The same may happen next week, due to the gap at .1039. It is much better to fill that gap now, than after a run to .15 or .20, but, the market is the boss. We will see.

2 - The +DI dropped too, to gain room to run again. Like you can see, always pulls back when it hits the 50 line.

3 - The MACD continues too high.

4 - The main supports are .1, previous resistance, now support, and, the green trendline.

Prediction for next week: I think the gap at .1039 needs to be filled, and, as sooner the better, because the stock will then run freely, without motive to pullback. But, the stock may also run further, to .15 or .20, and, only after to hit these levels, make a 50% pullback to fill the gap. Both scenarios are possible, but, I prefer the first one, because my experience with gaps is very bad.

Daily chart


Since the beginning, when I first posted here, I called a run to .10 - 15. Here we are. But, I think RXMD has potential to run to .20 or even higher.