iSIGN Media Solutions Inc V.ISD.H

Sell- off or the next step up?

[matus]

Hi Silver,
 
as I am not a professional trader and definitely not a “guru chartist” I can only give my amateur point of view from the experience I have made as a hobby trader.
 
Looking at the chart, ISIGN made a huge leap forward from 7 to 14 cents. It actually peaked to 17cents only to start to retrace back to where it is now.
 
As we know the company will receive an injection of several millions of dollars that should help to set up the long waited revenue stream in the near future. Of course that will come at a cost. At least the amount of outstanding shares at present will double once the deal has been “nodded off” by the authorities.
 
For what I see ISIGN broke out of the upper downtrend channel – going back to 2014 - to only now (drift back to the downtrend channel from the top). Looking at the last couple of months (beginning of December till now) you can see a nice trend upwards developing. Is should pick up momentum from here if the uptrend should stay intact. A “healthy breather” to continue to leap forward?!
 
Now I don`t know in Fibonacci terms how much ISIGN has retraced. That could give an idea where the price will be heading as well. The RSI has come back to give this stock a chance to head up again. I purchased a few shares yesterday.
 
Just my two cents