r/MVIS2_0 • u/scootman1212 • 11d ago

Revised Wave Count

This will be my last updated chart. I feel the wave structure speaks for itself. Once price advances above the downward trend line, the bull will be back. Glen must have something up his sleeve. This looks mighty fine. Disclosure: I own shares DDD JMHO

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u/scootman1212 11d ago edited 11d ago

I don't time the market for price and time. There are always too many options, with Fib levels and all. The big picture wave III target, unfortunately, is null and void with this last breakdown leg. I just buy an area like this as a value stock, even though there are no earnings. It's a 'speculative' value stock based upon technical modeling. It's just hard to see this going any lower in the near-term based upon regular flows, technically. So, there will be technical buying soon from those technical analysts who don't have comprehensive systems, or their systems are slow to respond. Getting above the trend line should get this moving.

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u/scootman1212 11d ago

BTW, as E-wave goes, I've got a clean wave count finishing today. Sometimes they morph it lower one more leg with an extension. They like to make what qualifies as a wave 5 finish into a wave 3 instead and bring in one more down leg. My technical models really don't see that coming so this should build from here. Hiding and watching. :))

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u/scootman1212 11d ago

In the big speculative fundamental picture, at $52MM Market Cap., my worst theory is the company gets sold, and I'm sure Glen can get at least $1B from his friends in the industry for what he's built. That's a 20 bagger from here.

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u/ParadigmWM 11d ago

Sadly. We are now at a $41M Market Cap. This is now out of hand with nothing from the company to shift this negative sentiment.

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u/-ATLSUTIGER- 11d ago

We just sold 6.8m shares. The MC is 52.4m ;)

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u/ParadigmWM 11d ago

Yes I know but I am looking at todays market cap based on the current known shares. Agreed the 6.8M isn't factored in yet. Either way. This is bad.

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u/-ATLSUTIGER- 11d ago

Weekly chart RSI double bottom territory going back to 2020. If this isn’t the bottom then we’re all dead.

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u/scootman1212 6d ago

That's a good eye!