SENS Elliot Wave analysis
Updated
SENS is a medical tech company focused on the design and development of glucose monitoring products designed to help people with diabetes.
Pricetarget wave 2 correction: $3.00
Pricetarget wave 3: $12-24.
The pricetarget of wave 3 will likely be driven by the US FDA approval coming march 2021. Hype will most likely drive the early stages of wave 3. Hopefully this hype will be backed up by fundamental growth of the company where it starts to make profits and scale in the market. If they don't get FDA approval this stock will most likely fall. High risk high reward play.
~slippe
Pricetarget wave 2 correction: $3.00
Pricetarget wave 3: $12-24.
The pricetarget of wave 3 will likely be driven by the US FDA approval coming march 2021. Hype will most likely drive the early stages of wave 3. Hopefully this hype will be backed up by fundamental growth of the company where it starts to make profits and scale in the market. If they don't get FDA approval this stock will most likely fall. High risk high reward play.
~slippe
Note
I thought this move to $3.00 wouldn't be as sharp as it was, but still it was expected. We should see more upside from here until FDA approval in march!Note
I'm updating the chart once the wave 2 low is in. I'm convinced the first sharp move down was still submicro wave C of micro wave A. I think we are currently very close to the bottom of wave 2. RSI is also going to the point of oversold. I'm now looking for RSI divergence on a smaller timescale and maybe some sort of final 5 wave structure to the downside for the bottom of micro wave C. I think the low will be in this week.Note
I have updated the chart and made a new one with the wave 2 low in place.
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