Replies to post #72014 on Progressive Care Inc (fka RXMD)

[soupbone]

Thx Doc. Solid objective info from a technical perspective. Good this week.

RXMD

[Jimmy Quick]

If it was a technical run, we wouldn't be at this level now, it's a run to true valuation on fundamentals and interest do to crossing over the 20 million annual net revenues which is a signal for private equity money to get involved. Institutional Investors will be next after 2nd audited financial statements. If we look back you have only been correct on the high side predictions, and that was just for temporary breaks and then boom way over it. These temporary breaks can be orchestrated by a group of sellers. It has never hit your low suggested targets for support. Trust the fundamentals not T/A

[Dr PennyStock]

What is happening is the first case scenario on my prediction.

It may pullback to touch again the trendline, to cool down the indicators, and, gain momentum to break .1

However it's showing great strength, so it may not drop to touch the trendline, but, wait for the trendline, trading sideways for a few days.

Very strong stock, no doubt.

[Dr PennyStock]

Here it comes to touch the trendline, signaled with the number 5 on my chart.

T/A works here perfectly. This stock follows the charts like a dog :)

This is not bad at all, in fact it is great, because generates the necessary buy pressure and momentum to destroy the .1 barrier.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=138826310

[Dr PennyStock]

Technical Analysis - RXMD annotated daily chart.

1 - The RSI is still overbought, but, like on last week, still has room to run, because the top is at 100. Like I predicted last week, the RSI dropped from around 86 to 73, to gain momentum to break the .1 resistance. The same may happen next week, due to the gap at .1039. It is much better to fill that gap now, than after a run to .15 or .20, but, the market is the boss. We will see.

2 - The +DI dropped too, to gain room to run again. Like you can see, always pulls back when it hits the 50 line.

3 - The MACD continues too high.

4 - The main supports are .1, previous resistance, now support, and, the green trendline.

Prediction for next week: I think the gap at .1039 needs to be filled, and, as sooner the better, because the stock will then run freely, without motive to pullback. But, the stock may also run further, to .15 or .20, and, only after to hit these levels, make a 50% pullback to fill the gap. Both scenarios are possible, but, I prefer the first one, because my experience with gaps is very bad.

Daily chart


Since the beginning, when I first posted here, I called a run to .10 - 15. Here we are. But, I think RXMD has potential to run to .20 or even higher.