Hi Vango,
Sorry for the late response, been away over the weekend.
This analysis is a fair one and is definitely plausible but you need to take into account a number of variables which makes me too, disagree with it.
1. This is purely a short term chart, does not take into account the past 2 years price action.
2. Falling wedges also have the possibility to break upwards.
3. Lack of indicators provided prove that whoever uploaded this is unaware of severely oversold conditions.
4. Does not take into account blatant order book and price manipulation - with large buys and sells being shifted deliberately to push the price down. (unknown reasoning)
5. It does not recognise any fundamental successes of the company - ie. contracts, deals, revenue (not to mention upcoming cash flow positive alongside being due for an announcement)
6. As stated by other posters, Recognia are not reputable or consistent in their calls.
All in all, I will continue to buy and accumulate at these price levels.
Best,
L
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