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home » small cap highlights
Small Cap Highlights
Remote MDx Inc. (OTCBB: RMDX.OB)
For
Monday, November 19th, 2007
Tony Golan
Chief Technical Analyst
StockProfit.com™
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This week I chose to highlight the chart of Remote MDx Inc. (OTCBB: RMDX). For much of the past year, RMDX was in a long-term sideways trend, swinging above and below the 200-day moving average, but not sustaining a clear trend in either direction for very long. However, all that changed in early August, when RMDX hit a low of 1.54 the 200-day moving average, then turned up and started trending up sharply and consistently, hitting a high of 3.87 just this past Thursday.
So, RMDX has more than doubled in three and a half months, and this whole time it only corrected once for three days off the high. All other "corrections" have really been more pauses, since they lasted two days or less.
Therefore, although RMDX is very strong and in a persistent up-trend, the best time to buy it and the best time to decide whether to buy it or not is at the end of a correction against the trend that lasted three days or more after hitting a new high, followed by a turn back up to indicate the up-trend is re-starting. Keep RMDX on your watch list as it is very strong in the face of a lot of weakness elsewhere.
Tony Golan
Chief Technical Analyst
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