Excellent Technical Setup for a BIG run! Plus we should see some big news on the way as they expand into Hong Kong & China. Could be last chance to get in at these cheap entry levels for those who have yet to grab a position. I love nothing better than seeing this kind of technical setup where we have an explosive "W" Double Bottom Pattern - (See chart Analysis at the bottom of this post).
We have been long this stock for all the right reasons and we knew this was coming. SCRC is poised for a huge year and the trend in the share price has now reversed. Your right we will see some fluctuations along the way, which is very healthy consolidation. Your swing traders will jump in and out to grab small profits here and there, but it will be the die hard longs who will profit the most. There are times to swing trade and then there are times to go long a stock and it comes down to doing the necessary DD to know the best strategy.
As with any startup company, there will be some risk involved and SCRC will be exposed to some attacks along the way. It's easy to expose a few weaknesses in a company that is in the early stages of growth and expansion, but one needs to step back and look at the whole big picture to get a real handle on where this company is headed this year.
I have done my DD and weighed the risk and reward factors, while ignoring the outside noise from those who twist the facts and over exaggerate the company's weaknesses during this early stage. It's not an easy task to do a complete due diligence on company, but it is definitely worth the time invested when you find these kind of opportunities to go long. I ignore any mindless outside noise and quietly focus on the ongoing developments by the company to become a viable long term business.
The worst is now behind us and we are now much closer to that next stage where the company expands RapiMeds into Hong Kong and then China. I think this link you shared on Monday needs to be really looked at by those considering to get in now before the BIG news hits! Here is the link about SCRC's RapiMed market expansion into China: ScripsAmerica - RapiMed® Expansion into China Market
This international launch is in its final stages of approval for Hong Kong while registration approval documents are being prepared now for mainland China. I don't think many have really wrapped their head around the big picture of this expansion and what it will mean for SCRC and its shareholders. This stock is poised for an explosive move to the up side. A huge announcement could come at any time and when it does, those who didn't buy at this level will be kicking themselves! Without a doubt, this has to be the hottest opportunity in the market right now! Exciting times again my friend! Cheers!
Now back to the chart. The first chart below is their daily chart that shows that the stock has broken out of the downward trend and has come off a double bottom.This is looking like a great early entry point here.
The next chart is a weekly chart, which clearly shows the "W" double bottom pattern that can be extremely explosive! If the stock can break above $.30, which is above the mid "W" point, it could send the stock beyond $.60. It is definitely something to keep an eye on, now that the stock has broken out of that down trend and off a double bottom. Given that we have some major developments happening with the company expanding into Hong Kong & China right now that will produce some big news hitting the wires very soon, I see SCRC moving above and beyond that $.60 level and possibly rivaling that $1.00 mark.
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