Charts in this stock don't matter because there is not enough flow. This is a concept stock. It moves in big increments on news - look at the first six months of its life after the IPO in May 17 - and drifts on lack of news - look at the last 2.5 years since it hit the all time high. Remember only one week ago an order of 50'000 shares pulled or pushed he stock two or three percent in one direction or the other.
The only thing that matters is news flow. The more +ive announcements the more buyers. 67/75 - none of this is relevant. IF we get FAA the stock will go up 50+%; if we don't the stock will drift back to 30. If we don't have any news this month the stock will drift lower - if the Israeli PoC turns into a bigger order the stock goes up. Etc.
There are also some insider sellers about which seem not to be particularly concerned about price action.
My advice - stay long, I would guess if there had been a problem with the work of the drone they would have had to announce it.
ELS Price at posting:
56.5¢ Sentiment: Buy Disclosure: Held
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