Wednesday, October 16, 2019 6:24:37 PM
(Investopedia: 'Flat channel: Flat channels occur when trendlines have a zero slope. These trend channels show sideways movement in the market with no upward or downward trend.
A trading channel is a channel drawn on a security price series chart by graphing two parallel trendlines drawn at resistance and support levels. Generally, traders believe that security prices will remain within a trading channel and will look to buy at channel support and sell at channel resistance. While this type of range trading is nice, the bigger trading opportunity presents itself when there is a channel breakout. When this occurs and is confirmed, then the probability of a quick, significant move in the security's price increases dramatically.)
Also, If you look at a 5 yr daily chart, you will see that the ONLY time the RSI dipped clearly below the 30 was when RXMD dropped to .03.
I also counted the 'Corrective Waves'...There needed to be five; and, there was. The one year chart shows the MACD also dived to its most significant low over the 1 yr period.
I overlaid the 5 wk time frame w/regression channel which highlights the 'channel'...These patterns are not always easy to detect, but I am happy to clarify any questions you may have. (Even the 'channel' has the 5 corrective wave pattern.)
The indicators tell us - they don't always agree - but over time you begin to understand better the story they try to tell us.
We are close, in my estimation... It is possible that btwn now and .037 RXMD finds a bottom and the ride up should be historic.
No guarantees, but this is how I see it.
I hope it helps.
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