Thursday, March 02, 2023 2:54:52 AM
Just some observations in case anyone finds them useful.
I was kind of expecting this to double bottom before it had a real chance to reverse. That could still happen in the .02s or low .03s since the pattern has been for this to drop hard every 3-6 months. But this particular cycle, it's been spending a lot of time nearer the high side of its trading range.
What's different than past cycles? The company finished the audit and seems to be making progress on its first marketable product. We could also be seeing a dead cat bounce. (Temporary stall in a continuing downtrend.) A catalyst now could send this toward a dime+, otherwise there's some bearish signals on the weekly.
Daily chart:
Weekly chart:
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