Titan Medical Inc (TMDIF)

[EIT]

In terms of price action, and what I got from chart reading over the years, everything so far is normal price action.

The drop is likely profit taking.

In terms of technical chart interpretation, the drop represents a retest of the 200 MA.

A retest of support levels (which were previously resistance levels after breaking through it) is entirely normal, and when a stock runs too fast and too high, traders start selling.

The 200 MA is 3.40 right now, which we may hit Monday, with 3 scenario's: 1) support at 3:40 will fail in which case we had a false breakout, 2) it will consolidate before another run 3) it will bounce back, or not even hit 3:40 and start another run right away.

Given the strength of the run so far, I suspect it will be either 2) or 3).

1) could happen if we get bad news Monday morning...

If 2 and 3 happens, and it's another run, then it can take us all the way to upper 5s with an ABCD chart pattern...