Reaading ChartsI haven’t posted anything in the last few weeks since there were no changes in technical picture. To be honest, nothing justifies this post either.
What we got last week was no real “fundamental” info during a webinar. What we got was strong management stand on December being Cash Flow Positive. Stock didn’t collapse and didn’t move higher.
But look at the charts.
Daily Chart 
The Good: We are still trending within the larger channel. Staying above 0.51-means trending potentially higher. Stock can correct in price and in time. RHT correct in time. If price stays at the same level for weeks to come (at least 3) – it will break channel trend line signalling potential reverse. We need time. Stochastics are curing up
The Bad: We are below Kama. We still have a gap at 0.475-0.485 but this is just 1 cent and it happened over 2 month ago. I’m Not a TA purist and this gap doesn’t have my attention
And the Weekly Chart 
We might have a flag within the up trending channel . Still needs time. Stochastics and Momentum (TSI) are pointing lower.
If December is going to be Cash Positive market might get a notice and management might get some kudos. Investors will start believing that promised profitability in the end of March 2020 might really happen. Volume is almost non existent. I have my positions opened at 0.43 (fake breakout) and 0.52 - partially closed at 0.66. Just a risk management – never have 100% of your capital in junior plays. Will re-buy if can. So, we’ll wait until the next year for another webinar or…..one of the Investment Houses decides to say something nice about Reliq.
Happy Trading