I drew it out as a 3 month chart instead of a 1 month because it shows the movement of the 200 DMA upward while the 50 has remained mostly flat....with only the slightest decline.+
I count that as the last 17 sessions with RVX trading in this range between the 50 and 200 dmas. If the pattern holds then RVX will continue trading between the two as they move closer and closer together....until it breaks out of the range either to the upside or down.
I believe it'll break to the upside, hopefully beyond the 52 week high of $4.31....goodness knows there are all manner of news events that could drive a move like that. Financing news sufficient to retire the Third Eye loan, trial news about achieving 250 MACE and/or end of dosing....and then a myriad of other possibilites that seem less likely to me like a licensing deal or buyout.
I still hold to the accumulation thesis that I think has been playing out ever since the Assure trial "failure". Its that Wyckoff method of buying at the bottom of the range and then selling at the top to create volatility that can unsettle retail holders. "Dang, every time we get to $3.20 it drops back to $3 or just under again....to heck with this, if it gets up there again I'm out".
I'll be checking in the evenings while I'm away....unlike Cuba, Panama has wi-fi throughout the resort, not just in the lobby area. I wonder if they'll be playing this song down there, its been running through my head all week now.
Hard to believe DLR is in his 60s now.....but then I'm not far behind.