Cheryl, thanks for the chart. Great point about RF
Post# of 11899
Cheryl, thanks for the chart. Great point about RFMK breaking the 200 day moving average!
Note also that the chart has drawn a local head and shoulders pattern which usually signals a move to come in the stock, either up or down. It looks bullish because of the prior bottoming out formation before the gap up to the shoulder of the head and shoulders from the long term bottom in the triple zero range, along with the formation ending with a break of the 200 DMA and the MACD and other stochastics on rising sharply. The chart is setting up for an eventual bullish GOLDEN CROSS, the 50 DMA moving up over the 200 DMA which could really send the stock soaring on heavy volume. Today there is a lot of accumulation at and over the 200 DMA which is a bullish sign; not much bid sitting or PPS fluctuation.
GREAT news for RFMK today! $1.5M in funding for RFMK to grow it's business is HUGE! I do not think the market has really digested the power of this game changer yet. It is almost unheard of for a pink sheet stock to secure such a large funding package, and from such a solid institutional investment group. With zero liabilities, all debt paid, no more financing worries or financial concerns for the company and a $1.5M growth capital injection, RFMK is super charged for growth going forward. The book value rises on this news because of the new fundamental valuations and also the P/E multiple should rise based on a higher projection for growth and revenue potential for future quarters. I place RFMK book value at just over half a cent and fair value at $0.0093 per share, based on the current known status for the company. I think that once the 10K is filed and the audit is complete and the company is fully reporting that fair price could literally double; that is how important total transparency is to the market, in my opinion. If in the next few months the developments bring higher volumes, I think a decent target price for the stock could be as high as $0.05 per share! Depending on future announcements concerning CannaCig demand and units sold so far along with earnings projections, who knows, the sky is the limit for the share price!
Exciting times for RFMK shareholders. By the way, where did all the bashers go?!! Hey, c'mon, its too easy to only come out from under the rock your hiding under when the stock has a bad day of losses while you all are silent and no where to be found on any day when the stock is in the green. Weak.
LOLzzz
GLTA!
$RFMK!