Reading ChartsFor months everybody on the board was making tons of money waiting for the promised (by one of the members) price of $10. Remember “we are all will become millionaires ?” – another member’s prediction ? Didn’t happen. Not yet.
So, let’s look at RHT right now without any emotional (bad loser or didn’t I tell you so ) ingredient. And I apologized if these questions were already asked by other members. I check board every couple of weeks.
What are we waiting for ?
- Are they going to be paid for the services already rendered ? And if yes how much - 80%, 50% any %. High % invoices paid would be very positive. Even if payments will materialize at the end of 1st/2nd quarter
- Are they going to lose some patients/clients after payments are made ? If contracts are gone the dream is gone too.
- Did Reliq collaborated with clients to serve patients which were not qualified to be on the patients list ? This would be very bad indeed.
- Are we going to get any info from Australian pilot project. We don’t need positive response. Reliq needs positive response with contracts followed or promised (at least).
Too bad we can’t answer any of these questions at this point.
And…. If company is going to hit chapter 11….. well all speculations are pointless off course.
But, if they are NOT going to become defunct any good news will move the stocks up. I strongly believe Reliq will be a GREAT Trading vehicle in 2019. And I emphasized word “Trading”. You don’t have to marry a company to make money. You just buying a stock. Doesn’t have to be a day trading. Good trade can last weeks and months.
Daily Chart – triangle with support at 0.23 and resistance 0.28-0.29
Weekly Chart - Looks like Reliq is bottoming. CCI started moving up – always acts sooner than RSIs. Resistance 0.29/0.44/0.77. Support, well around0.22-0.23
I don’t pay much attention to Morning Star evaluations but they posted price/fair value of the stock around $0.40. I would agree with that (Dec 12).
"Basher"/"Pampers" who cares (the last ones I used for my kids ...). . Make sure you check charts before you step in into the market.
Thinking about buying ? What about stop buy at 0.32 with limit 0.34 - just an example NOT an offer to buy/sell.
merry christmas to everybody and Happy Trading