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Tuesday, August 24, 2021 4:01:33 PM
https://www.ig.com/us/trading-strategies/16-candlestick-patterns-every-trader-should-know-180615
But remember the recent news pinning TOMDF as one of the only OTC players who make antibody tests that could confirm the need of covid booster shots, at a time when the push for covid booster shots is particularly hot - a potential trend-changing combination for TOMDF. What force wins in that scenario? Market hype in a rush to grab cheap shares, or the company/stakeholder seizing the opportunity to take more profitable dilution?
Here's how I got to my profit target of .07
(This approach works best only after the first run and pullback. See the explanation below the chart. Note the gap from yesterday's close to today's open. The market naturally wants to go there to test participation at those missing prices. :)
Charts candles are 30 minutes each to help show the gap and pullback!
![](http://i.ibb.co/kxdvGP4/20210824-tomdf-profit-target.png)
I'm using a theory called Elliott Waves that suggests we may see a run consisting of three motives (uptrends) and two pullbacks (downtrends) before a new major trend emerges. If that's what's happening here, we are just finishing the first pullback and will trend higher this week, before another pullback and then one last high-risk/unknown-reward pump. If so, .10 seems a reasonable final target as it's a previous high. But there is strong resistance at the 200 day moving average at .047 so a rebound could stall there and then faceplant hard.
Elliott Waves aren't as easy to use as Alligator but here are videos explaining both if you're curious. Alligator lags a bit (fair warning) but right now it's still a Hold on the daily, Hold (or tentative Sell) on the hourly.
Elliott Waves
Alligator
NGL with no end of day rebound this is looking kinda shaky. But I'll hold for now because so far, news keeps coming. :) Btw does anyone know the timeline for getting back to pink current? And what do you think would be the impact of that?
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