RZLT Biotechnology Penny Stock Reports in the next day LONG
Updated
RZLT is a biotechnology company which has products in clinical development. Many are aware that means rigorous clinical trials before an FDA approval and a product line that generates earnings. Stock price is more about growth and potential more than anything else. That
said the chart looks good and I sense there is momentum heading into earnings in the next day
so this is a buy for me. I can see that price broke above a recent supply/resistance zone. This
penny stock likely cannot be shorted so there is no selling pressure to be exerted until present
longs have found their target. This can add to the momentum without the drag of that short selling. A penny here and a penny there it all adds up over time especially with compounding in active trading with penny stocks that have great range.
said the chart looks good and I sense there is momentum heading into earnings in the next day
so this is a buy for me. I can see that price broke above a recent supply/resistance zone. This
penny stock likely cannot be shorted so there is no selling pressure to be exerted until present
longs have found their target. This can add to the momentum without the drag of that short selling. A penny here and a penny there it all adds up over time especially with compounding in active trading with penny stocks that have great range.
Trade active
Nice finishing sprint into the earnings today.Note
Note
Nice retest of resistance turned support- textbook Doju candlestick at the bounce on the 15 minute chartNote
On the three minute with the mass index reversal indicator firing Trade active
Nice pop today for earnings. Raised stop loss above entry level. Now risk free. After next rise will convert 1.2 the trade to a trailing stop. Looking for continuationTrade active
Retested support/ prior resistance on a down market day- support held.Trade active
A breakout day today to make up for the consolidation of yesterday. Looking for more. Holding the full position.Note
Trade active
Price has fallen off a bit- it remains to be seen if this is a dip buying opportunityor the stock is reversing on its supertrend. On the 5 minute TF considered, I will
buy the dip and look to high time frames for the overall trend to change.
This is quite extended and so prone to a reversal.
Note
One Hour time frame
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.