Post by
tamaracktop on Apr 01, 2023 9:23pm
Not a peep from him, so here's my personal call
For what it may be worth....
After yesterday's trading, the chart looks better than terrific.
Yesterday the stock closed 9 cents below the 52-week high closing basis, set on February 1st at $2.97, two months ago.
A measly nine cents.
The next close above $2.97 will be the highest close since the close at $3.07, going all the way back to January 4th, 2022, fifteen months ago.
This is precisely the type of event that algorithms are progammed to red flag,
While volumes have been anemic recently, personally I expect that to change in a big way in the near future, due in no small part to the company's increasing visibility.
The forthcoming uptick in volume won't come on the sell side.
The late January - early February rally from $1.80 to an intra-day high at $3.05 lasted exactly 13 sessions.
The consolidation from $2.78 down to the low close and back to $2.78 recently took 34 sessions.
A textbook and orderly correction after a quick quadruple.
There is no question in my mind that interest in this stock is building.
This will be borne out as fact in increasing volumes in the coming weeks and months.
The increase in block trades in the last six weeks is sure evidence of institutional involvement.
Institutions are longer-term investors, and still see this as an opportunity to get in on the ground floor
This stock will be blue-skyed over the very low $3's, as people looking to sell once they've broken even are weeded out.
After that, it will be a very quick trip much much higher.
Comment by
tamaracktop on Apr 01, 2023 9:31pm
Admittedly premature, but the fact is that statistically the fastest double in the market is from $5 to $10. If anyone would care to challenge me on that, please be my guest.
Comment by
tamaracktop on Apr 03, 2023 10:26am
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