TXMD - 2 Scenarios, favoring a LONG
Updated
Interesting little stock. Friend told me he bought in so I decided to take a gander. Good look!
Technical traders rely on the tenant that history will repeat itself.
We can see TXMD has been in an ascending wedge for the last week or so.
RSI is moving downward into oversold territory and the wedge tells us to expect a mild price correction back to the 1.80 level.
When it consolidates, we will see compression and a break either high or low.
2 scenarios:
Down
Up
The 15 min William's VIX Fix (which I cannot publish, but you can look at for yourself) shows a likely upward break next week.
Keep an eye on the action early Monday morning though. If I see any indication of increased volume on Monday or a confirming signal (RSI or MACD crossover) I will be going in heavily LONG. I currently hold no position on this security. If TXMD dives below 1.75 I'll likely steer clear and look for a new entry lower with better signals.
Like if you like. Not an expert - just my idea, and I take my ideas to the BANK! I'll look at the fundamentals a little later and post again if I think they are worth noting.
Play this one carefully...
Good luck!
Technical traders rely on the tenant that history will repeat itself.
We can see TXMD has been in an ascending wedge for the last week or so.
RSI is moving downward into oversold territory and the wedge tells us to expect a mild price correction back to the 1.80 level.
When it consolidates, we will see compression and a break either high or low.
2 scenarios:
Down
- My chart tells me to expect a down break to the 1.70 level
- If the security dives below 1.75 early next week, I expect resistance at 1.70.
- If it plows through that, the next bottom will be 1.55
Up
- If we are lucky and the consolidation breaks to the upside, 1.90 will be a nice target.
- If it plows through 1.90 early on, we could see action to 2.05 and beyond.
The 15 min William's VIX Fix (which I cannot publish, but you can look at for yourself) shows a likely upward break next week.
Keep an eye on the action early Monday morning though. If I see any indication of increased volume on Monday or a confirming signal (RSI or MACD crossover) I will be going in heavily LONG. I currently hold no position on this security. If TXMD dives below 1.75 I'll likely steer clear and look for a new entry lower with better signals.
Like if you like. Not an expert - just my idea, and I take my ideas to the BANK! I'll look at the fundamentals a little later and post again if I think they are worth noting.
Play this one carefully...
Good luck!
Order cancelled
Ruh roh, Shaggy!This stockerino didn't have the heart nor the gumption!
This boyo is headed down, down, downtown.
Will I be picking it up around 1.60? Yes - a timid entry.
If I see it indications of a pop pop, I'll go in heavier and hop out back around the $2.00 range.
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