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Message: Chart gazing...

I still look at the chart from time to time....even though my investment decision has become more fundamental and based on what I see as the blockbuster potential for Apabetalone starting with success of BETonMACE.  

The problem with RVX's chart for me is the lousy volume....In any case here's what I'm seeing with the 3 month chart that includes the cratering of the PPS after the overnight financing:  

We've got the PPS finding a base of support in and around the $1.30 area and then it climbed off that base getting up around $1.45 around June 26.  After settling back around that same $1.30 base the next spike came about July 24 getting up to about $1.55....that's good to see, a higher climb.  Since then the same base of support formed around $1.30 but we haven't seen a third move up yet, and imo we need to see one that takes us higher than $1.55 as a possible signal of a coming up trend.

As far as the MAs go the 50 is flattening out finally after falling steadily for months....and is sitting at $1.36, just one cent above the most recent closing price.  The 200 is a long way off at $1.80 currently....

MACD is just below the zero line, having made a big climb from -.20 back at the end of June.  A break above 0 would be a bullish indication if it cmoes to pass.  

The chart looks okay to me....but given the pathetic volumes, I don't view it as being highly reliable though.  

 

 

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