WATT blew thru 16 & 17 level resistance and now sits on top of 17 level this morning due to an announcement that Dialog Semiconductor has invested an additional $15 million in Energous/WATT (on top of prior $10 million investment) - another nail in the short thesis coffin (who argued they would screw shareholders and dilute by mid May of this year...). CEO Steve...
My overall outlook for WATT is long and this scenario gives a good reason for entry. Stocks don't move based on technical as much as it does with fundamentals. But you can definitely use technical setups to find a good entry. Will be looking to buy WATT at 12.40. Short term target is 14. Long term target is 19. Trade with care.
We are watching for a good entry point on Energous with the expectation that price will jump to the green range by JAN 5, when WATT will demo wireless power rx/tx in consumer products. Successful product shipment is already being priced in as the chart follows the green range into DEC. We will look to add to our position if price falls into lower blue range in DEC.
bearish/bullish signals here $watt