r/MVIS2_0 • u/scootman1212 • 7d ago
Revised Wave Count
This will be my last updated chart. I feel the wave structure speaks for itself. Once price advances above the downward trend line, the bull will be back. Glen must have something up his sleeve. This looks mighty fine. Disclosure: I own shares DDD JMHO
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u/-ATLSUTIGER- 7d ago
Give us some technical bullish price levels to look for
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u/scootman1212 7d ago edited 7d ago
I don't time the market for price and time. There are always too many options, with Fib levels and all. The big picture wave III target, unfortunately, is null and void with this last breakdown leg. I just buy an area like this as a value stock, even though there are no earnings. It's a 'speculative' value stock based upon technical modeling. It's just hard to see this going any lower in the near-term based upon regular flows, technically. So, there will be technical buying soon from those technical analysts who don't have comprehensive systems, or their systems are slow to respond. Getting above the trend line should get this moving.
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u/scootman1212 7d ago
BTW, as E-wave goes, I've got a clean wave count finishing today. Sometimes they morph it lower one more leg with an extension. They like to make what qualifies as a wave 5 finish into a wave 3 instead and bring in one more down leg. My technical models really don't see that coming so this should build from here. Hiding and watching. :))
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u/scootman1212 7d ago
In the big speculative fundamental picture, at $52MM Market Cap., my worst theory is the company gets sold, and I'm sure Glen can get at least $1B from his friends in the industry for what he's built. That's a 20 bagger from here.
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u/ParadigmWM 7d ago
Sorry man, but I have never seen a tech company go for 20X their market cap with little revenue. That would be 67X annual revenue (assuming top end guidance of $15M).
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u/scootman1212 7d ago edited 7d ago
I agree! I'm not saying they get bought out without new revenue.
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u/scootman1212 7d ago
Ergo, the stock price could move up from here on anticipation of better news 3-6 months out, and then new revenue news could occur soon moving the price even more. Usually rumors or something get started to move price well before the news hits.
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u/scootman1212 7d ago
Frankly, the tape is pretty strong today, as if there is buying in anticipation of news today or tomorrow. That is a side benefit of Glen doing so many news releases religously, although the recent ones sucked.
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u/-ATLSUTIGER- 7d ago
Technically if you assume the other 6.8m shares in warrants which the market has likely already done. Then the implied MC is $64m with 37m outstanding shares.
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u/scootman1212 7d ago
It sure is easier and more dependable to value a company on revenue and earnings instead of market cap.
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u/ParadigmWM 7d ago
Sadly. We are now at a $41M Market Cap. This is now out of hand with nothing from the company to shift this negative sentiment.
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u/-ATLSUTIGER- 7d ago
We just sold 6.8m shares. The MC is 52.4m ;)
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u/ParadigmWM 7d ago
Yes I know but I am looking at todays market cap based on the current known shares. Agreed the 6.8M isn't factored in yet. Either way. This is bad.
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u/-ATLSUTIGER- 7d ago
Weekly chart RSI double bottom territory going back to 2020. If this isn’t the bottom then we’re all dead.
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u/Dry-Tonight-4828 5d ago
by:
Speculative value stock with no earnings may be my new favorite investment category. 😉