My view is, each to his own opinion on technicals
Post# of 11899
My view is, each to his own opinion on technicals and price levels. I really think that for the traders and flippers the technicals matter more than for long term fundamental investors. I really only place any significance on the Bollinger bands and the 200 dma. Most of the technicals though really have no meaning most of the time with the stock trading 2% or 1% or less of the float worth of shares. In such anemic volume, it's just a print the latest price game, its meaningless. As more investors become aware of the RFMK investment opportunity and volume increases going into elections along with other RFMK catalysts like the 10K filing and possible uplist this year, the technicals will matter more and more. A concrete example is the RSI (14 day window), it is rather high because of the recent push up above the 200 dma, but the problem with thinking it is absolutely high, is that at any time hundreds of investors could begin investing in RFMK and the RSI would turn back up and go past the 90's and beyond because of the massive accumulation. We have to remember that short duration technicals are only a relative measure of dynamic action for whatever buyers and sellers (and short sellers) there are currently. Long term technicals also dont hold much weight either because most of it was in low volume and even the volume that traded to make those charts were with shares which were churned back and forth (flipped) hundreds of times; the same few participants just exchanging shares back and forth dozens of times. This is why it is so important to focus on the fundamentals for RFMK and the business and company itself, the stock is its own animal and at the moment its akin to holding an angry Honey Badger on PCP in your arms.
I do not care much about where the stock is right now or where it has been, I care about where it is going.
GLTY
$RFMK!