Forward Industries, Inc. operates as a single source solution provider for the full spectrum of hardware and software product design and engineering services. It also engages in the designing and distribution of carry and protective solutions. The company was founded in 1961 and is headquartered in West Palm Beach, FL.
I have to comment, because I’m giddy with anticipation for Tuesdays’s open, and I have nobody to talk to. I bought at $1.03, so it almost has ten-bagged already. I already have life-changing gains unrealized, and haven’t sold a single share, and when I do, it’s all long-term cap. At first, I thought I would trade the multi-year channel, and sell at $11.75, buy back in at $5, but now that the price has already busted through the top of the channel that I have described on my chart, I realize we’re in a whole different part of the trade - the critical part. I know a lot more about this trade now than I did when I got in. So, I’m rolling with it as it comes, and my chart is pointing at almost $90 for this stock. Zoom out if you don’t believe me.
Shammus01
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Ok, well, I’m up 250 some-odd percent now, and I know the game is only starting, because the short sale as a percent of available shares is still over a thousand percent - meaning there are over ten times the number of shares sold short than outstanding shares. Sure, short interest came down 13% for last quarter, and the price has doubled in that same time, so just try to imagine what will happen to the price when the rest of those naked shorts have to cover. Ouch! I maintain my $50 price target and the short sellers are going to get REKT! The lawsuit and army of chat room spammers are just icing on the cake. You know you’re over the target when you’re catching flak
Shammus01
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I’ll post here, because I can. Obviously now we can admit that your analysis was useless. You have not described the movement to date. What we’re seeing is a hard “second shoulder” (upside down H&S) off of one dollar - and it has held. Long term target is north of $50, but this first movement upward (which hasn’t happened yet) will exceed in magnitude the two prior spikes around $4, armed with the knowledge that the dollar has been defended and will be defended. The question is how high, and my answer is first stop $7-$8 area, then come back down onto $1.50. I could even see a spike back down to a dollar seeing as how volatile this thing is. Multi-year timeframe show a large bowl-shaped pattern, and we’re coming off of it late, and things are going to get hot. Find your channel and swing trade the f out of it.
Shammus01
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And then?
Shammus01
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How can you have four price targets? Dumb on man, stupid!