My other interpretation is slightly less bullish but still has upside to around $20. This also could be a countertrend interruption to the long term bearish price action which would lead to the stock getting delisted. I see a lot of opportunity here and if this basing pattern holds profits will be insane, but it's definitely a lotto play. There's potential for a bounce off of the 50% retracement, but that's not very likely so I'll wait to buy any significant amount of this one.
The call chain is particularly attractive should this play out with prices for ATM and NTM calls for the next several months ranging from $5 - $35 per contract.
@Pondering1, Nice info! The chart paints a picture of a strong probability bottom; hopefully it holds and we don't see a delisting. I'm scaling in now for an intermediate term trade. Call premiums are dirt cheap.
gregoriotempesti
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When you zoom out, looking at your long term snap, it really looks like a Wyckoff Accumulation Pattern. If that's so, we are on phase C below the support lines, ready for a strong bull run. This makes sense, because it's typically a pattern in which institutions accumulate shares (30.41% of Shares are held by Institutions, 30.62% of Float is Held by Institutions, 152 total Institutions that Hold Shares). They are now a solid business, over 2,000 procedures were performed globally in 2021, representing growth of over 42% compared to 2020. Received four regulatory clearances. Full year 2021 unaudited revenue is expected to be approximately $7.9 - $8.3 million, representing growth of 147% -159% over the prior year. The market is fully ready and developped, there's been clinical validation of the products, their product-line expanded. If they end up getting delisted now, it would be a very unexpected surprise.
**** No financial advice is given or implied. I am not a registered investment advisor or stockbroker ****
Pondering1
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Been in this for a while and also noticed that Representative Hon Kevin Hern had listed it as part of stock purchases back in June of this year.
Pondering1
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Thank you for your detailed chart. It is greatly appreciated