By The Life Science Report
Technical analyst Clive Maund outlines the reasons this stock might break higher.
Reliq Health Technologies Inc. (RHT:TSX.V; RQHTF:OTCQB), which we bought back into at the start of July, has certainly done well for us, as we can see on its latest six-month chart, and the purpose of this update is to point out that the technical pattern continues to look good at this junctureand that it appears to be accelerating, driven higher by the parabolic uptrend line shown on our chart.
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Note the particularly fine chain of bull flag/pennant consolidations punctuating this advance, and how they are accompanied by a marked volume dieback, which is a sign that another up-leg is incubating. That appears to be the case with the current pennant. Even if it consolidates here for a little longer, it is reasonable to expect it to break higher again soon.
Reliq Health Technologies website.
Reliq Health Technologies closed at CA$0.50; $0.385 at 9.30 a.m. EDT on 4 October 2019.
Originally posted on CliveMaund.com at 9.40 a.m. EDT on 7 October 2019.
PS: If you see any other charts that look this good, please let me know (before they’ve gone up).
Clive Maund has been president of www.clivemaund.com, a successful resource sector website, since its inception in 2003. He has 30 years’ experience in technical analysis and has worked for banks, commodity brokers and stockbrokers in the City of London. He holds a Diploma in Technical Analysis from the UK Society of Technical Analysts.
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Charts provided by the author.
The above represents the opinion and analysis of Mr Maund, based on data available to him, at the time of writing. Mr. Maund’s opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund’s opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.
( Companies Mentioned: RHT:TSX.V; RQHTF:OTCQB,