Cinedigm (CIDM) Channel, Head & Shoulders, and Ascending ChannelThere's a lot of action going on here in a short time span. I have identified three different stock patterns in CIDM over the past 6 months. The first pattern is a simple horizontal channel. The second is a head & shoulders pattern. The third (current) is an ascending channel.
Cinedigm
CIDM Showing Signs Of LifeI drew the fib retracement starting from March 2020 lows and sure enough, it pinpointed a few key levels, the 786 fib line being one of them and CIDM is testing that as we speak. Depending on the volume and if this news event has some legs, CIDM could be one of the penny stocks to watch this week. A lot will likely come down to how it will close the day on 7/15/2021.
"Only a few days ago, it announced that it was forgiven for a $2.2 million Paycheck Protection Program (PPP) loan. East-West Bank paid off not only the loan in full but the principal and interest of the PPP loan as well. This is a big deal and should reflect positively on the companies balance sheet moving forward."
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Then today, the company reported preliminary fiscal Q4 results.It said consolidated revenue came in at $8.3 million, with streaming channel sales up 197% versus the prior-year quarter and 39% sequentially over last quarter, according to a regulatory filing. Streaming/digital revenue grew to 75% of group sales in the quarter versus 48% in the prior-year quarter. Also, CIDM announced a payoff of the remainder of its Prospect Digital Cinema loan in the amount of approximately $3.5 Million, effective July 9, 2021. Revenue from the sale of certain digital cinema equipment enabled the debt reduction and balance sheet improvement.
CIDMCinedigm Corp (NASDAQ:CIDM) The rising 200-day exponential moving average has been a good support reference point for this name to take long positions and that was exactly what I did last week. Lets see if we can get another leg up to retest the 1.60 area again.
cinedigm corporation stock analysis - cidmThe Idea is to hold before going long. Go long only if the resistance 1 will be broken.
Cinedigm Partners With Spherex to Expand International Content Distribution Capabilities
Cinedigm reduces total debt by 47% and annual interest expense by 37%
NASDAQ:CIDM
