After poking its nose through a still falling 50-day moving average it got knocked back hard a couple of days ago due to the announcement of a big funding to be done at $5 – and so the stock dropped backed to $5. If this funding was still an issue the stock would be held in restraint until it is clear that the funding is being taken up, but it isn’t an issue because when the pricing of the funding was announced it was made clear that it was expected to be fully taken up within a couple of days. This rapid completion of a big funding is a clear sign of confidence in the company and is thus construed as bullish, and with this limiting factor gone already, the stock is viewed as an immediate strong buy here.
The stock is up a little in the pre-trade today, but “once the penny drops” that the funding is already completed or about to be, it is thought likely that it will take off higher.
Unusual Machines website
Unusual Machines Inc., UMAC, closed at $5.03 on 6th May 25.
Posted at 9.20 am EDT on 7th May 25.