On the big picture we can see that we have broken a significant resistance that has lasted for over 3 years at the 0.39 level.
Here is a little snippet from a news release to explain what this product is on oct 20th
"Antigen-based tests look for intact or fragmented virus within a patient sample, which can be taken and analyzed at the same point-of-care. Such tests are proving to be a faster and less expensive option for screening for COVID-19 disease, although they will likely not replace lab-based nucleic-acid (“NAAT” or “RT-PCR”) testing for definitive diagnosis. An initial group of antigen-based tests have been authorized for emergency use by authorities such as the United States FDA, which has made six such tests available"
Covid testing will likely be needed for awhile even with vaccines coming in as that will take to implement and I'm sure health care officials will want to test patients as much as possible.
On a smaller timeframe it appears to be going through a pullback, perhaps retesting the .39 level of the trendline providing a great entry for this uptrend.
We also had a significant amount of insider buying from 0.27 to 0.4 and considering that we had broken a long term resistance, and fundamental tailwinds behind this product, I doubt this ticker will fall below the trendline.
Here is a little snippet from a news release to explain what this product is on oct 20th
"Antigen-based tests look for intact or fragmented virus within a patient sample, which can be taken and analyzed at the same point-of-care. Such tests are proving to be a faster and less expensive option for screening for COVID-19 disease, although they will likely not replace lab-based nucleic-acid (“NAAT” or “RT-PCR”) testing for definitive diagnosis. An initial group of antigen-based tests have been authorized for emergency use by authorities such as the United States FDA, which has made six such tests available"
Covid testing will likely be needed for awhile even with vaccines coming in as that will take to implement and I'm sure health care officials will want to test patients as much as possible.
On a smaller timeframe it appears to be going through a pullback, perhaps retesting the .39 level of the trendline providing a great entry for this uptrend.
We also had a significant amount of insider buying from 0.27 to 0.4 and considering that we had broken a long term resistance, and fundamental tailwinds behind this product, I doubt this ticker will fall below the trendline.