originally published Tuesday, April 25, 2023

All Biotech & Medical Stocks

Resverlogix was recommended on the site early this month on the 4th but after a brief spike it turned into a “damp squib” quickly losing all the gains and then ran off sideways on dwindling volume as we can see on its latest 1-year chart below. However, the case for owning the stock remains the same. Technically, all that happened was that the stock was not yet ready to advance with the 200-day moving average still dropping, but it is now closing on the price and the 50-day and this, coupled with the fact that the recent flurry of activity has drained off some overhanging supply, is believed to have set it up for another upleg soon, especially as volume is now light – and this time more of the gains should stick.

We therefore stay long and this is a good time to buy or add to positions.

Resverlogix Corp. website

Resverlogix Corp., RVX.CSX, RVXCF on OTC, closed at C$0.16, $0.118 on 24th April 23.

Posted at 8.55 am EDT on 25th April 23.

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 stockmarket 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.