Progressive Care Inc (RXMD)

[midas716]

I don't base my trades on anyone else. I rely on TA and Fundamentals. I mostly invest in QB's or higher occasionally investing in a pink that has reported they are in the process of auditing and usually not on the announcement they are just commencing audits. Audits take time. That said:

RXMD has revenue. They have increasing revenue QOQ. Looking at last 10Q they diluted a measly 937.5K shares since Dec. 2016 which tells me they no longer have to rely on selling shares to fund operations. Those shares were from consulting as well not to fund daily business operations.

As far as a trading group leaving? Big deal. Happens all the time. What happened when they were done selling is the key element here. Bulls pushed it right back up to a close just below the upper bollinger and if you look at the daily chart that is exactly where this stock has consistently moved up from.

Looking at the run I see two spinning top candles each followed by a continuation of the run. Those are consolidation candles. Being a Friday I expect we may see another today but that's just a guess. This stock is strong as noted by the push back up yesterday after the exit.

I have also been noticing that general pullbacks are followed by larger and stronger buys. That also tells me mm's may be filling larger orders for people with deep pockets who have the clout and cash to call their broker and say " I want 400K shares but I won't pay market". The mm will then walk it down in small block trades, causing further momentum down as retailers sell, until he has accumulated enough to fill his clients order. Then he buys pushing it back up. After those declines I have seen orders come through ranging from 50K to 400K.

I can tell you this. IHUB is not the major force pushing this up. It's coming from the outside. As far as $1.00 per share? Not going to happen tomorrow or in the weeks to come. 2 pharmacies by my calculation, and others, have this around .40 to .60 cents. They will need two more to reach $1.00+ comfortably. My estimate on two stores is based on the second pharmacy... eventually reaching the $22m mark in revenue. That won't be instantaneous. It will have to grow like the first pharmacy had to grow. Two more pharmacy acquisitions and this is indeed a $1.00+ to $1.50+ stock.

Please no more talk of an R/S to reach the NASD. Once profitability comes in quantity there are other options like stock buybacks with surplus cash on hand. Besides there are plenty of NASD stocks with 300m+ O/S's that are trading in multiple dollars. Their A/S is 500m yet as stated they only sold 937.5K to the market last year. That's peanuts compared to other stocks.

Today I would like to see another spinning top candle with the body right in the middle of yesterdays candle and good consolidation. That would push the following days upper bollinger above the PPS and keep RSI respectably in the mid to low 80's. Enough room for another two maybe three days of upward price movement well into the mid to high .20's before it overheats again and needs more consolidation.

Just my .02 worth.