On the above 10 day chart price action on this penny stock has corrected 98% since February 2021. A number of reasons now exist to consider a long position. They include:
1) Price action and RSI resistance breakouts.
2) Past resistance confirms support. (yellow arrows).
3) Regular bullish divergence. Multiple oscillators print positive divergence with price action as measured over 6 months.
4) The falling wedge formation forecasts a 8000% move as measured from the highest to the lowest wedge touch points.
5) No share splits. True.
Is it possible price action corrects further? Sure.
Is it probable? No.
Ww
Type: Investment
Risk: <= 3%
Timeframe for long: Qrt 2, 2024
Return: 8000%
Stop loss: 55 cents
1) Price action and RSI resistance breakouts.
2) Past resistance confirms support. (yellow arrows).
3) Regular bullish divergence. Multiple oscillators print positive divergence with price action as measured over 6 months.
4) The falling wedge formation forecasts a 8000% move as measured from the highest to the lowest wedge touch points.
5) No share splits. True.
Is it possible price action corrects further? Sure.
Is it probable? No.
Ww
Type: Investment
Risk: <= 3%
Timeframe for long: Qrt 2, 2024
Return: 8000%
Stop loss: 55 cents
Trade active
Comment:
on support
BTC
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Weblink: www.patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: www.patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
"Danimer Scientific, Inc. Short Interest % Float 32.28 % "