PRPH COVID play or speculation????HHHMMMMMmmmm Speculation:
"engagement in business transactions involving considerable risk but offering the chance of large gains, especially trading in commodities, stocks, etc., in the hope of profit from changes in the market price" as noted by dictionary.com
This has been in a consolidation zone since June 2018, I so added a 200 day MA in which it is currently trended bullish as of Aug 24 and more volume than ever... On Sept 30, ProPhase Labs "announced its intention to explore the acquisition of one or more CLIA (Clinical Laboratory Improvement Amendment) accredited labs suitable
for COVID-19 and other testing". The MASSIVE spike in volume on Aug 10 comes on earnings day and imo, earnings day is almost like doomsday in this COVID era, but this one... bullish, so bullish it killed the Matador. However, the RSI is hitting oversold area and could pull back to 4.44. It did however, break previous resistance and 52 week high on Friday. I think ideal entry is between 4.44 to 4.98 and exit between 5.12 and 6.69 (I know its a wide range but 6.69 is previous high resistance). For now I am just going to be a spectator, I need more legit confirmation and news to jump in bed with this dude... I don't sleep with just anybody...
yours truly,
Velvet Barbie
