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sachinsyd

1,622 Posts.

35

23/05/18

10:48

Post #: 33266323
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Originally posted by willbio ↑

70 cents Sachin, really?

If you’re going to make extreme (and nonsense) predictions like that the least you could do is back it up with meaningful technical analysis.

For example:
1) the stock is currently oversold on the RSI.
2) Bullish divergence on the MACD indicating a possible reversal
3) Extreme volume on April 6th which could arguably be called stopping volume and the first sign that smart money was beginning to accumulate stock.

I can’t even see it hitting $1.70 let alone $0.70.

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Its subject to breaking 2.30 again. There isnt any technical support under that. I respect ur opinion. Not here to scare anybody. I would not rely on oversold RSI (for example look at chart of US listed market darling at one time Valeant Pharma VRX) MACD again a lagging indicator. The best signal MACD and RSI gives is of divergence with price ( supported by other factors)

BLA Price at posting: $2.59 Sentiment: None Disclosure: Not Held
1 Upvote

0 Great analysis

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