Although we sold Helius Medical Technologies early in the week for a quick 28% profit in a week after another ramp in the stock, some of you may have been a bit miffed that it carried on higher for a day or two afterwards, but now the decision looks to have been a correct one, because Helius dropped a hefty 12.4% yesterday.
We have a similar situation now with Reliq Health, which has risen steeply for over a week. You may recall that we bought it back just before this latest rise, and are now up 48% in a week, a very nice return. However, as we can see on its latest 4-month chart, there are red warning lights flashing all over the place – it is supercritically overbought on its RSI indicator (again), massively overbought on its MACD, has opened up a huge gap with its 50-day moving average and the parabolic uptrend driving this advance. Finally to cap it all, a bearish “spinning top” candlestick formed yesterday as volume ramped up to a high level, signaling imminent exhaustion. The convergence of all these warning factors points to an imminent reversal, which could be violent. Therefore anyone holding should TAKE PROFITS IMMEDIATELY.
The 3-year chart, while heartening for longs, at the same time looks even more scary…
Finally, lest any of you may be thinking that you are getting too old to have some fun, take a look at
this spirited lady in Maryland celebrating her 98th birthday in style.
Reliq Health Technologies
website
Reliq Health Technologies, RHT.V, RQHTF on OTC, closed at C$0.43, $0.35 on 12th October 17.
Posted at 7.45 am EDT on 13th October 17.