So Dro is still pushing ahead, which was contrary to my last update, however Im still seeing the setup for the decent pull back I was expecting. The signs are now even stronger, favourable to the down leg Im waiting on. I still hold my target zone below as shown where I have set an alert for me to revisit the technicals (on no positive news). 2 Items on the charts are swaying me to resist taking any position still.
1) The incline wedge it is working within. (look up incline wedge pattern for stocks)
2) The ongoing divergence on the rsi/stochastic indicator (Indicator dropping showing weakness while stock keeps rising)
I also noted an article on Market Index written by a Dr. David Allen from Plato Investment Management on insdier buying and selling showing that last big draw down had an element of DRO management selling. That $11.9m works out to be approx 2.5% of the total approx market cap. It is good to see the ivestors eating it up though with it rising back up (says they are very bullish on the stock). However even the DRO inside sellers thought it was a little too preemptive, hence there partial sell out.
Im also tracking AD8 & TPW waiting for there lows.
Good luck everyone
MMM so whats Drone Shield up to?
Well here's my charts and what I think will happen without any meaningful news. You probably read my last post on the FOMO effect for its last rise to the moon. Its certainly had the top chipped off and the way its shaping I believe its got further to go. My chart shows my plan however the stock is certainly a golden child ATM and as we all feel it probably has a good ways to go over the coming years so long as its run well.
So Im thinking I will run this one with alerts at my targets and if any news comes in Ill certainly be alerted when it pushes through one. I will update this one if anything needs to be revised
Good luck