Update to RNVA
Updated
Not pictured in chart are (3) extended hours transactions at .38 730pm EST 7/21 and at .4 at 4 am and 6am EST 7/24. Given the 7/24 transactions sizes of 500 and 100, they could have been paints by a market maker looking to draw a market based on AH/PM percent gained. Still 3 weeks out from earnings, and potentially 2.5 months from potential spin-off. PPS of .4 to .41 is personally the max I would pay for this, anything above that, this far out from earnings I would consider as chasing/FOMO. Given a correctly sized position today with entry between .38 and .41, scalpers/day-traders comfortable with the risk could realize a profit on a move of just .03. Consistent support at .34, accumulation or cost-averaging down should occur if price corrects to .33-.35 range. True longs should not crowd the ask and create fake resistance.
Trade closed: stop reached
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