RWLK ReWalk Robotics Daily Chart Oversold Positive Divergence Price Extended to the Downside

Remember Keystone highlighted ReWalk, a fancy robot company, at the bottom in early September and highlighted the bright green lines displaying positive divergence. RSI and stochastics were oversold as well also pointing to a bounce and voila, the bounce occurred as forecasted and it was a nice little rocket launch. Keystone exited the long trade in mid-September taking the money and running not 'walk'ing away. The plan was to reenter the trade long on a pull back. The weekly chart remains positively diverged just like the daily chart above. Price kept falling.

The concern was the two downside gaps that may need filled so the logical conclusion was to wait to see if price fills the two gaps (tiny blue circles) and price came down to fill those gaps. Price jumps off the bottom over the last couple days and today intraday price came down to fill the gap from a day ago and then the candlestick finished on the top half showing that the bulls are stronger than the bears. The 8 level creates initial resistance.

Now what? The darker green lines show the lower low in price occurring with the indicators remaining in possie d sloping higher long and strong, thus, another bounce would be expected and the last three days price is displaying this buoyancy. The weekly chart remains positively diverged across its indicators. RWLK is attractive as a long play and Keystone opened up a new long position today. ReWalk is a knife-catch and highly speculative stock only for those willing to potentially lose their dough. The lower trend line remains in play.

The brown dots show price extended to the downside so a mean reversion higher in price is needed just like the prior times. The expectation is another bounce for RWLK with the possie d kicking in. ReWalk would be expected to move sideways to sideways higher into the end of the year. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.