(Total Views: 430)
Posted On: 09/03/2018 5:37:49 PM
Post# of 99128
Thanks for the chart on $RVXCF PoemStone.......
A cup and handle chart is one of my favorite set ups, but lately I've been so wrapped up in Resverlogix's fundamental picture that I hadn't even taken note of the base of the cup forming. Back in May I attended an investor presentation the CEO did in Toronto, last week I was on the phone with their new VP of IR.
If this pattern plays out according to the way a C&H chart is supposed to then we'll be seeing a climb to that $2.75 area you note, then a dip as those who bought in at around $2.75 earlier in August bail out...happy to have broken even, forming the handle,
And then hopefully its a blue sky breakout to a new and higher trading range that this chart pattern is indicating as being possible.
I know you know this....you've obviously got a better eye for the pattern than I do. Just sharing for anyone else who maybe hasn't come across it before.
If the PPS can get over $3 that would be not just a 52 week high, but a 5 year high....and that means pegging resistance is more challenging. Personally I think the company is heading for a market cap in the billions if their Phase III trial succeeds.
Here's something I wrote up on Seeking Alpha back in November: I've been on quite the tear the past few years.
https://seekingalpha.com/instablog/15663412-j...ter-sector
A cup and handle chart is one of my favorite set ups, but lately I've been so wrapped up in Resverlogix's fundamental picture that I hadn't even taken note of the base of the cup forming. Back in May I attended an investor presentation the CEO did in Toronto, last week I was on the phone with their new VP of IR.
If this pattern plays out according to the way a C&H chart is supposed to then we'll be seeing a climb to that $2.75 area you note, then a dip as those who bought in at around $2.75 earlier in August bail out...happy to have broken even, forming the handle,
And then hopefully its a blue sky breakout to a new and higher trading range that this chart pattern is indicating as being possible.
I know you know this....you've obviously got a better eye for the pattern than I do. Just sharing for anyone else who maybe hasn't come across it before.
If the PPS can get over $3 that would be not just a 52 week high, but a 5 year high....and that means pegging resistance is more challenging. Personally I think the company is heading for a market cap in the billions if their Phase III trial succeeds.
Here's something I wrote up on Seeking Alpha back in November: I've been on quite the tear the past few years.
https://seekingalpha.com/instablog/15663412-j...ter-sector
(0)
(0)
Check out my blog if you like: Avoid The Bag
