In my opinion, the "technicals" or the the price chart does not mean a thing for the future potential of RFMK. I think if RFMK performs and delivers value to shareholders by way of coming through on promises they have made to shareholders then it could move up, but if they fail to perform and none of the promises made are realized and the company continues to dilute along with meager sales/revenues then it could move down. It's that simple. If the stock traded intraday with greater amounts trading hands then the volume would be higher and then perhaps the technicals would mean more but for many weeks now the stock has been only trading roughly $10,000 to $20,000 worth of shares on any given day and we don't even know how much of that is flipping between unique buyers and sellers, etc. Compare that daily with the likes of say a CBI* which trades about $300,000 to $500,000 worth of shares on any given day. To be fair, that stock does have roughly half the shares in the float as does RFMK, however even after adjusting one can see it would be akin to comparing about $10k worth of stock trading daily to about $150k worth of stock, about 15X times greater capital flows. And I would argue the fundamentals for RFMK are stellar compared to some of those other MMJ stocks trading at higher multiples and P/E's, indeed RFMK has a real product line actually selling in the market while some of the others do not even have a product out yet. It is quite clear IMO that RFMK is just still unknown by the market place, it is a pink sheet stock and volume can be quite erratic in a PK stock. Do not place equal weighting on each section of the price chart over time with such technical analysis because really the only sections which matter and tell us anything about the stock dynamics for the distant future are the extremely high volume days and as we have witnessed, any day RFMK trades in the hundreds of millions of shares, the PPS tends to skyrocket, when the volume falls back down to anemic levels, the PPS continues its stair step "trend" downwards while the bashers (flippers) scream about dilution "causing" such dynamics. As I have always said, even though the flippers and scoundrels will laugh at you employing such an investment strategy, the best way to build a long position IMO is to accumulate bit by bit over long periods of time. Each investor/trader must make their own buy/sell decisions however, in my opinion, the only way to steer clear of the panic buying/selling flipping mentality (which always tends to lose money to the manipulators) is to go long and stay long but do not buy all in all at once, buy at multiple levels at great frequency over long periods of time to average into a large position which stands the best chance of getting in at a decent valuation as compared to the 200 DMA and your own fair valuation of the stock.
GLTY
$RFMK!
