Sona coming back down????Who wants to make 200% on short trade... Here you go......massive bearish cat ears pattern on the 15 min thru 4 hour time frame. Stoaks also about to tank. Your welcome!!!!
Sona Nanotech Inc
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Trade ideas
SHUN - SONAForming a typical falling wave pattern, and breaking supports.
Could rise up to the $5.0, but all rise must be sold. Very likely to go below $1.15
SONA NANOTECHDowntrend broken. Bullish flag on the 1 hour while trading tight with the 9 EMA. Above average volume past 2 days with no news? Leak ?
This play is known for it's volatility and leaky news, market is expecting good update about the company's new Covid-19 saliva test, along with sales, revenue projections, and regulatory approvals. Either one of those will increase the sp drastically.
If all goes well, I really see this play breaking it's previous ATH of $16, but for now remain cautiously optimistic. Short term goal is $8, can change depending on what the company releases.
Drop your targets below or what news you think we will hear next.
Long on SONA.CN
SONA- POTENTIAL BULLFLAG BREAKOUTSONA Looks like its ready to break out of consolidation after a recent spike up in the last month.
Ill be watching the current support level at around $1.62 and try to enter as close to that price as possible.
Still quite a hot sector as this company focuses on administering Covid 19 tests as well as other Lateral Flow Tests which are used in various industries.
They recently got their covid 19 test approved for use in the EU at the end of December, and could possibly be the reason this spiked up around that time from $1.14 up to +$4.00.
Lots of potential upside left on the chart from a technical view.
I'm personally looking to only play the breakout and exit at around $2.25 or so, however that may change depending on momentum and how well it breaks out (if it does) of this bull flag/wedge.
Goodluck Traders! Please leave your comments below if you are looking at this as well!
SONA.C — Re-testing EMA 50; Oversold on the hourlyIdentical setup to my Aug 6th call that resulted in 70% profit. Strong support at EMA 50 and oversold on the Hourly. Possibility of news tomorrow or Friday. Stop loss under today’s low.
SONA.C -- Potential bounce opportunity from historical supportSONA shaved off close to 60% off its recent highs after news of 2 week delay for FDA approval of their COVID-19 test kits. Nothing has changed fundamentally and, if you read the NR carefully, they are lining up more customers and shipping kit prototypes under research license. NASDAQ uplisting is pending as well.
The stock has landed in the historical support zone, almost exactly at EMA 50. Additional Fib support right below. This is a good speculative entry here for a bounce with multiple catalysts pending. A stop just below Fib. support may be a good idea.
DO or Die!Flying above yesterdays close with a gap to fill in price action but filled on the rsi....
SONA.C -- Filled the gap and approaching oversold areaSONA sold off on news today, filling the 1.25 gap in the process and testing the 1.13 Fib support. While more downside is possible, daily RSI is approaching oversold area and hourly is already oversold. Historical support in this zone as well. I took some at 1.15 - 1.17.
SONA -- Rapid Coronavirus Test Kits in partnership with GEBought SONA on pullback at .67 - .70 to take advantage of the Coronavirus scare. Solid product/partnership with GE. Solid NR but currently caught up in market wide panic. Expecting a rebound.
