$RNVA ANALYSIS CREDIT BIDSMAKER1: April 20th, 20
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Posted On: 04/21/2018 3:16:08 PM
$RNVA ANALYSIS CREDIT BIDSMAKER1: April 20th, 2018 had 75,412,369 volume with 39,760,344 short volume for 52.72% of total volume shorted which is significantly higher than the previous days 40.51%
IMO shorts were covering in advance of next Monday/Tuesday Not really high enough of a percentage to trigger a short squeeze HOWEVER, when the total A/S is only 500,000,000 + then the likelihood that a short squeeze could happen increases significantly.
The A/S is maxed out. Last Friday which is normally a "profit taking" day for many traders only minimally occurred and at close RNVA stock is up 50% PPS increase. With 52.72% of the volume shorted that is 39,760,344 / 500,000,000 = .0795% of the A/S with volume 75,412,369/500,000,000 = 15.08% of the A/S resulting in .50% increase in PPS and as a percentage of the days volume as shown above = 52.72%
So why this exercise of numbers?
Simple. The stage is set for very aggressive price action movement. The naked shorts will be forced to cover as upward buying pressures increase which typically occurs with a favorable 10Q. Given that MM diluters only have non diluted shares now to enter the market they got last week from walking down price per share they will probably switch tactics on Monday from walking down for more shares to selling acquired shares for gains. This means they will be PUSHING THE STOCK.
Look for a possible gap up on Monday. If so, shorters will be forced to cover which in turn will push the stock even higher. Watch for the larger block buyers that occurred Monday at around the .0232 range to then start taking profits. IMO if we will see the .0307 , 0329, 0330,0340 resistance levels broken (highly possible), then we can easily see .0413 -.0579 on Tuesday. Probably a lot of profit taking around .05 which depending on volume could see a close around .04 - .0413
I have seen extraordinary price movements under similar circumstances which if they occur here it is possible to see gap fills at much higher levels. There are numerous examples of short squeezes on OTC/NASDAQ
THE KEY HERE IS MAXED A/S, Naked Shorting that likely will require covering, the lack of shares available, 10Q coming out, spin off and lots of educated traders that continue accumulating.
As I noted in a post several days ago, the MMs were very aggressively after your shares for a reason.....now you will see what the reason was (in action) next week.
IMO shorts were covering in advance of next Monday/Tuesday Not really high enough of a percentage to trigger a short squeeze HOWEVER, when the total A/S is only 500,000,000 + then the likelihood that a short squeeze could happen increases significantly.
The A/S is maxed out. Last Friday which is normally a "profit taking" day for many traders only minimally occurred and at close RNVA stock is up 50% PPS increase. With 52.72% of the volume shorted that is 39,760,344 / 500,000,000 = .0795% of the A/S with volume 75,412,369/500,000,000 = 15.08% of the A/S resulting in .50% increase in PPS and as a percentage of the days volume as shown above = 52.72%
So why this exercise of numbers?
Simple. The stage is set for very aggressive price action movement. The naked shorts will be forced to cover as upward buying pressures increase which typically occurs with a favorable 10Q. Given that MM diluters only have non diluted shares now to enter the market they got last week from walking down price per share they will probably switch tactics on Monday from walking down for more shares to selling acquired shares for gains. This means they will be PUSHING THE STOCK.
Look for a possible gap up on Monday. If so, shorters will be forced to cover which in turn will push the stock even higher. Watch for the larger block buyers that occurred Monday at around the .0232 range to then start taking profits. IMO if we will see the .0307 , 0329, 0330,0340 resistance levels broken (highly possible), then we can easily see .0413 -.0579 on Tuesday. Probably a lot of profit taking around .05 which depending on volume could see a close around .04 - .0413
I have seen extraordinary price movements under similar circumstances which if they occur here it is possible to see gap fills at much higher levels. There are numerous examples of short squeezes on OTC/NASDAQ
THE KEY HERE IS MAXED A/S, Naked Shorting that likely will require covering, the lack of shares available, 10Q coming out, spin off and lots of educated traders that continue accumulating.
As I noted in a post several days ago, the MMs were very aggressively after your shares for a reason.....now you will see what the reason was (in action) next week.
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