So in today’s video we are talking about ticker symbol, zom zometica. Now we want to talk about this stock because it’s getting some more attention again, as it’s been pushing up quite a bit so we’re going to talk about why it’s pushing up the price action that we have been seeing support resistance that we want to be watching Out for obviously, and then, of course, some of the potential price targets. We only have one price target to talk about here, but we’ll mention that, obviously so, without any further ado, if you wouldn’t mind making sure you’re jumping down subscribing to the channel and hitting that thumbs up button, i appreciate everybody who does so so quickly. To recap: some of the latest news right, so we had this uh letter to the shareholders back on the 18th of january, so quite some time ago, but really what it was is that they had a healthy balance sheet. The ceo came out talked about their progress. Talk about their balance sheet talk about how they have now. Cash and cash equivalents are now in excess of 90 million uh and then they’re expecting that this amount of money will be able to sufficiently fund operations through the calendar year of 2023. So that’s good, because what does that tell shareholders? Hey, there’s, not really a threat for dilution, there’s, not really a threat for them to raise cash and for them to do an offering. Now, in the current landscape of the market, right um, it seems as if a lot of these offerings get absolutely eaten up and the stocks run you know and rip after their offerings or if a company wants to do an offering let’s say in the you know, August september months, even october months, you know in the summer months that’s a different story: there’s less volume.

Generally at least it was last year there was generally less volume, and we saw you know, z, o m. If we go to their chart, we can take a peek at how you know this stock has played out, go back to those periods right, they were doing these gaps in the charts. These are offerings for zlm when they were raising capital and what happened yeah. Okay, the stock you know pushed up after the offerings, but eventually we got to a point where in july they were like. You know: no, no, no, no and the stock just kind of fell down and who’s they. It really comes down to the market, the traders, the people who are involved in this stock, and could there be shorts involved? Could there be short sellers trying to hammer the stock to oblivion? You know taking it down to zero yeah, potentially right, there’s there’s. A lot of stuff going on behind the scenes, obviously that we don’t really you know, see too clearly on the surface. You have to understand that this stuff happens and it was a pretty you know: snasty downtrend, just pretty much straight down for quite some time until we hit the earnings in november, then that changed everything a little pop into earnings and then popped well beyond that and Have been up trending ever since and really making some big moves, and then we have this area drawn in here as prior support down on 85 cents, which ended up being a solid, buy range and zom has been, you know, ripping to the upside.

So for those looking to get into zom right now understand this, the stock already hit two dollars and it showed some resistance up there. So we’ll talk about that as well in a second but understand that this stock was, you know previously, like two weeks ago, trading under one dollar per share, and that was uh now looking back right. That was your ideal time to buy, to scoop up some dips because you’re up over 100 on those shares, if you’ve done so in the past two days, the stock’s up quite a bit now. Actually, the the friday alone after we’re from this video here is up to 27, as the market’s now completely closed. So now we want to do. Is we want to look at the chart here and we want to start saying? Okay, you know: where could this stock keep going to right? Where is the next area of resistance? So when you start to zoom out – and you start to look to the left, we start to see some more history and some answers so we’ll talk about that here. In just one second, but now let’s dive into the latest piece of news from the 25th semetica science forum, distribution agreement with miller veterinary supply. So what the company does is that they’re coming out with their product launch and this product is being launched here in the next month. And so this is actually. You know really interesting because now we’re going to be seeing how this stock kind of plays out into the launch, now with a lot of launches that i personally have seen the past and a lot of traders will tell you it’s many times a buy the rumor And sell the news now we’ve read through and in prior videos, some of what they have going on and kind of, their expectations for the launch and obviously, with the pandemic.

There are going to be some restrictions and so obviously it’s not going to be as perfect and it’s never going to go. You know as perfect as oh someone may plan ahead of time, but that said now, this launch comes out in march, so we want to be taking into this into account understanding that hey, you know what we want to see how this stock performs going into that Launch and then right after the launch, their launch is planned for march 30th, so we do have quite some time, but that said, you know we’ve even seen many stocks. What they do is they have this pre anticipatory run into that launch and obviously we’ll see how this volume kind of plays out going forward, and then we get to the launch and then the launch happens, and you know what is there to look forward to at That point right: what do we have obviously we’re waiting to hear more information, how it went things like that. You know a couple of the first couple weeks, what what’s going on right uh, but until we get that right, we’re kind of just quiet, okay, and so unless the the company comes out and has you know some press releases and comes out public and starts saying This that and everything you know things could get quiet, and that could be a point where traders say all right. I’M out, i i made my money and i’m going to move on, and so that could bring the stock price down in the short term.

Obviously, the long term longevity is depending upon how the launch obviously goes. We go back to the chart and we take a peek at how this, where we’re, looking at in terms of looking to the left, because in terms of finding resistance, you always want to look to the left. Now we came up to two dollars. That is our resistance for right now, so let me draw in a horizontal line at literally at two dollars that is going to be our area of resistance number one. We need to get above two dollars open and close and then ideally continue to hold above that level for some time now we want to look back to some of these spikes and we can start to see that this spike right here to about two dollars and Forty cents, this one right here, 260 and then this one to 298, so just about three dollars, so your your strongest area of resistance is going to be grinding through this two to 250 area. Once we can kind of grind through that point, then it looks like three dollars is probably in the cards for zeon, just based off of prior history, the chart technical analysis that’s. All it really is it’s, nothing crazy, nothing super complicated, that’s, basically, what it is, and does it mean the world absolutely not but it’s a tool to use this stock, though at the same time is very overextended. If we take a look and i’m, not a huge indicator guy, but if we take a look at the rsi, an indicator that you know is useful to use at some point.

The rsi has now reached overbought territories, which the last time it reached this territory. We saw we saw some pullbacks now it was temporary, but we saw some pullbacks, so i just don’t want somebody getting caught up in buying this stock at literally at resistance right and then all of a sudden. We get a pullback and they panic, sell this thing down to 150 and then maybe at 150, which we have a prior high at 150. And this is the gap right here: there’s a gap down. So they have this gap to fill down to 150 and then all of a sudden the stock drops there. But hey you know what they bought it too, and now they’re freaking out so they’re going to sell it here at 150. Meanwhile, it holds up 150 and then bounces off this and then pushes up and breaks over two and makes a run to three. I just don’t want to see that happening. Somebody i’d rather have somebody buy at support or, if you’re more experienced, then you can play more breakouts and buy at the breakout over two dollars and obviously you know have your have your plan in place, but that’s a much more higher percentage, trade than kind of Buying into the hype and just saying, okay, i’m gon na buy the stock. Now because it’s gon na go to five. No, please have more of a plan in place and if you’re gon na buy the stock now have some cash available in case it does dip and you believe in the stock and you believe the company have some cash available to be able to average down at.

Maybe 150 and if it came down towards one dollar or even 85 cents, those are some solid areas, in my opinion, based on the chart that looks strong to add now. Lastly, looking at the latest price target, we have out here on tipranks.com there’s a link down below if you want to check out tip ranks for yourself tons of great information beyond price targets for doing more analysis on stocks and companies. It’S a great resource for someone who wants to go a little bit deeper if you’re, someone who’s an investor or a trader so right here we have this price target hc wainwright um seven days ago, and this comes out to be one dollar and twenty cent price Target obviously we’re above this price target, but that was seven days ago, and so, if you go back seven days ago, yeah we’re sitting in this range yeah, you know we’ve already hit that price target and more in the past two days, that’s the take on zom At least as of right now, let me know in the comment section down below what you think, if you like, zom, going forward, if you’re gon na be holding zom or any other thoughts and ideas you may have on this stock, please make sure to jump down Below and grab your two free stocks with weeble when you sign up and then deposit a hundred dollars into your account, you’ll get two stocks up to one thousand eight hundred and fifty dollars that’s the platform that we use here and that’s.

https://www.youtube.com/watch?v=9y4jN-pbrnc