RMED appears to be nearing completion of a bottom reversal setup pattern that began in early February, following its post-offering gap down to the low $.30s. It is likely the stock will retouch the low-.30s or even get into the .20s to complete the setup. I anticipate a fast reversal after that resulting from heavy accumulation that has taken place since the offering wrapped. The downside risk is minimal given the low share price, so there is a favorable risk/reward opportunity here.
Join to our Community to discuss in the RMED Chat!
