Overall A good day for RMDT. A nice move this morning to .09 with a good deal of volume between .08 and .09. The pps pulled back 24% from the HOD when it hit .0665 this afternoon. Based on the trading action and the chart, i believe this was a retracement and looking at the chart i am still looking for a bounce from these levels just as i called earlier when the pps hit .0665. At the .0665 range some of the technicals started showing RMDT as moving to the oversold side. Williams %R still shows that as of the close today, RMDT could very well be oversold.
I also believe that alot of the resistance we saw today between .085 and .09 was alot of people that bought in Monday in the .05-.06 range taking profits as well a possibly the few that got some .065's at the open this morning. In my opinion a new foundation was laid today in the .065-.07 range and that we will see a northward bounce from here. Because of the volume the last couple of days i think the next couple of days at least will see moves to the north hitting NHOD followed by some retracement as people take profits. All in all RMDT held strong today after yesterdays move and i believe we will see some steady progress to the north over the next couple of days. Any news fromthe company with updates on the ELectric Vehicle will definitely drive this farther north than .10.
As always these are just my opionions based on observation and trading patterns as well as prior DD.
As always, GLTA
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