RE:RE:RE:RE:RE:Weekly chartThe "COVID-effect" that some other companies in the space are benefitting from is a double-edged sword, and ultimately will only add volatility (unless any particular company shows a real related benefit). I would prefer to have a stable stock like RHT.V that has doubting investors who don't add a price premium based upon emotions and pure speculation. The stock price we get will end up reflecting progress made (for better or for worse).
itsbeenawhile10 wrote: So basically you agree the downtick of the stock had more to do with their missed guidance as the market did not like the March 3, 2020 financial report press release when the stock on that day alone dropped from 0.60 to close at the low of the day at 0.455 or 24.17% & continued afterwards. Markets always react to good or bad news & they draw the charts at the end of the day.
If they would have delivered on their guidance along with showing their numbers of onboarding & would have re-iterated their prior guidance instead of changing their format of guidance also bringing it down I can only speculate but I think the stock would be higher than it is right now, that's why I did not take a position prior to their financial results, I wanted to see if they would deliver as per their guidance which I stated that on this bullboard & CEO.CA.
Now in my opinion the market is more skeptical on their progress since they missed their prior guidance & is still waiting for their new formated updated guidance when they stated that they would in the March 3, 2020 press release, that's probably why the stock is trading in a range & not following some of their piers COVID plays as some would call them that hit new year highs recently.
https://web.tmxmoney.com/pricehistory.php?qm_symbol=RHT
| 2020-03-03 | 0.50 | 0.54 | 0.455 | 0.455 | 0.4948 | 2.10m | -24.17% | -0.145 | 1,039,485.00 | 472 |
Always do your due diligence
Takeactionnow wrote: All of the elements mentioned play a factor. Without COVID-19 the reaction would have been different, but impossible to know.
The bottom line is that onboarding/financial progress is what will drive the stock higher (and lack thereof will cause it to decline and stagnate).
itsbeenawhile10 wrote: Also note that the COVID general market crash had already started in late Feb if I recall on the 25 before their financial report came & the general market crash accelerated very rapidly thereafter for the whole week which RHT reasonably held it's own in that crash the week after the report came out & you saw a sharp decline on the stock.
https://web.tmxmoney.com/legacy-charting.php?qm_symbol=RHT
Takeactionnow wrote: While investors were undoubtedly disappointed by the absence of great news, the sharp decline in early March is a reflection of the overall market reaction to the COVID-19 pandemic, which it closely mirrors. After some recovery, the stock is flat pending what is awaited, which is onboarding/new revenues news. It really isn't that complicated.
itsbeenawhile10 wrote: One year weekly chart is still bearish with a downtrend well in place.
Notice the long black bearish candlestick back in early March which was the week of their q2 financial report says that the market was very very disappointed of their financial report & the market probably loss confidence in the future developments of the company as the downtrend continued on.
As the saying goes the market is always moving forward looking & is probably not expecting very much in their upcoming q3 financial report.
Reading the chart it shows lower highs & lower lows with still no signal of a possible trend reversal.
https://web.tmxmoney.com/legacy-charting.php?qm_symbol=RHT
Always do your due diligence