The pricetarget of wave 3 will likely be driven by the US FDA approval coming march 2021. Hype will most likely drive the early stages of wave 3. Hopefully this hype will be backed up by fundamental growth of the company where it starts to make profits and scale in the market. If they don't get FDA approval this stock will most likely fall. High risk high reward play.
~slippe
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I thought this move to $3.00 wouldn't be as sharp as it was, but still it was expected. We should see more upside from here until FDA approval in march!
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I'm updating the chart once the wave 2 low is in. I'm convinced the first sharp move down was still submicro wave C of micro wave A. I think we are currently very close to the bottom of wave 2. RSI is also going to the point of oversold. I'm now looking for RSI divergence on a smaller timescale and maybe some sort of final 5 wave structure to the downside for the bottom of micro wave C. I think the low will be in this week.
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I have updated the chart and made a new one with the wave 2 low in place.
Sryy i was wrong, i Think it Will fly Next week. Is the FDA approval in mars?
TheApprentize
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Based on the $2.75 Low, your next price targets are $6.30, $7.26, and $10.05.
Slippe
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@TheApprentize, yes, i'm updating the chart once wave 2 is complete. (see comment)
TheApprentize
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@Slippe, I like your drawing and markers, but the fed killed all hopes today. NASDAQ is going to continue to decline in the short term and this stock follows NASDAQ very close. Thoughts?
Slippe
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@TheApprentize, yes FED is killing everything. I'm not invested in SENS myself. I think we should be invested in commodities, energy, industrials and financials with solid cashflow and fundamentals. With inflation rising and interestrates probably rising these growth stocks with no revenue and big debt will get absolutely crushed...
J_finnoy
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FDA approval delayed for 7 months. 180day sensor is already in the european market, not much new coming when getting FDA approval in the US. Negative earnings expected on the earnings report, the only positive news can be less negative numbers than first expected.
Only hype can drive this stock up, cause fundamentals wont be profotable until 2025. Hopefully the HYPE takes over. The technology is still very good and promising.
Slippe
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@J_finnoy, I agree. I think the US FDA approval will have a positive effect on earnings, but I also think holding companies with negative earnings is really risky coming months with inflation and interest rates likely rising end of this year.
ortensaktier
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Fda approval came out today
Slippe
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@serroo95, can't find anything about that... do you have a source? What I know is it will most likely happen in Q2 this year.