What is up, everybody welcome to trace trades, where your technical analysis on different stocks in the stock market, as well as potential, buy, hold or sell opinions on these. Given stocks. I'd like to preface by saying that i am not a financial advisor nor expert, i am just somebody i'm doing youtube, so take what i say with a grain of salt. The reason i started this channel is because a couple years back, i was about thirty thousand dollars deep in some pretty bad medical debt, not three hundred thousand uh.

Someone asked if it was three hundred it's just thirty thousand, not that big of a deal, and i was very lucky to have some close family friends and mentors that pushed me to work really hard and invest my money, and i am now a financially free guy. So if i can pass along any of the information resources or tools to you guys to make your lives a little bit better off than they were before, that's all i can ask for. Lastly, if you wouldn't mind dropping a like on the video really does help support the channel and consider subscribing if you'd like to see more content like this, as i do post videos every day, multiple times a day. So today we're going to be doing an update on ticker symbol, zom zometica corporation, and this was a requested stock by a couple subscribers we're gon na give credit today to michael rayna.

He says trey next big one is zone, peep it out and then a couple other people replied to that saying: how much higher could it go? Uh, gaxy and jax and check just just made someone some good cash. Forty thousand dollars wow power to you all right. That's awesome, that's good stuff, so uh we're gon na be giving a little analysis on zone, but before we do that, we're just gon na look at what this company is just a brief overview. So i have them pulled up on uh on market watch.

We'll just read this real quick, so the medical corporation operates as a developmental stage company. It creates products for companion animals by focusing on the unmet needs of clinical veterinarians. It plans to offer novel diagnostics and therapeutics that focuses on patient health and practice health. The company was founded by gerald l, zielinski jr on january 7, 2013 and it's headquartered in ann arbor mi, so zome has a pretty decent following on stock twits, 48 900 people.

The message volume is up a lot 56 percent. So it's pretty obvious that this is starting to gain some traction. Some people are really trying to start starting to pay attention to it and uh for good reason. The the technicals on this look very very solid.

I'm liking this a lot. There's a couple things we're going to talk about real, quick, we'll talk about the bullish and bearish trends. We've got the volume weighted moving average pulled up here. I will discuss what that means.

We've got the rsi indicator, we'll talk about that. We'll talk about the volume overall trend and we'll look at this from a macroscopic and microscopic perspective just so that we have some ideas of where this is going and where it has been in the past. So we're going to drop some quick levels of support and resistance, so immediate side. We do have support right here at 40 cents point four: zero, three one cents and uh.

This was actually a green day. I don't know why this candle is showing up as red, but we did end the day green. So that's that's a little bit confusing. We have that as an immediate level of support followed by.

I would argue. The next level of support, since we did gap up, is going to be the previous level of resistance at 0.3524 cents. So, where we're sitting right now compared to these two levels of support, you know i do find it probably likely that we fill this gap. Eventually, it's tough to say whether we're going to do that today tomorrow this week at all, we do seem to be on a overall downward trend right now.

If we draw up this this trend line, you can see pretty clear cut right. It's looking looking like we're following that pretty much to a t. So we are, we are on a downward trend. Right now seems to be a little bit of selling pressure.

Uh we have we've had some bounces back but um. It has been an overall downward trajectory. So it'll be more indicative on whether we follow this trend line or not, but as of right now it does seem that we are following that trend line, but the volume is looking really good, guys the volume's as good as it's basically ever been. You know at least on the six-month chart.

We do have some with that's going to come volatility right and the last three days have been uh extremely green there's been buying pressure right um, and because of that, we just shot the prices up on this exponentially. We were at 24 cents three days ago and we almost touched over 60 cents um yesterday. So that's that's a huge flip if you got in on this on 25 cents. That's that's amazing! Honestly, i'd pat yourself on the back, so some people said they made 40 thousand dollars on this on this play a couple.

Other people were requesting this stock, so they made a bunch of money and that it's going to be the next, the next bng. Oh, the next jag x, um, and you know it's it's uh, it's really looking like it might shape up that way. Honestly, you know i'm going to stick with my current core positions in jag, x and ocg, and i do think that jag x is going to pop off pretty well on monday. They do have a webinar they're expected to release some information about their potential merger and uh.

I also read something from a subscriber that i found was interesting if i can find this real quick for you guys. Let me pull up my jag x, video and i'll. Just read this d: real quick, so we're going to pull this up, got it right now, all right here we go i'll! Show this to you. So jaguar health is partnering with either compass or maps from their theogen medication.

This, along with us back, is going to be huge. This might be announced on monday as well and monday is our new webinar date. So there's a youtube link right here. If you'd like to check it out, it's just on the on the jag x announcement next monday, video, it's my most recent video that we put out today, uh so do check that out uh one more quick thing before we get right back into the video is I'd like to give a shout out to some of the uh patreons that we have over at patreons that we have at the patreon right now, so we'll show you guys and i'll just give them a quick shout out.

So we've got rafshan albert um. All these guys, brian simon zack, mike francis brandon, thank you guys so much for joining the the the family and the community over the patreon they'll get first access to my portfolio and my trading action and they'll have access to a private discord where they can talk. All things trades and and pick each other's brains so that ryan man, that was cool man - i didn't even plan that all right so back to zone uh. These are the current levels of support.

Resistance is pretty obvious on the six-month chart here. We do have this at as a resistance level. This is currently the first level and then i am going to treat this um as the next level of resistance at 47-18, so do be watching for those we have been trading over the volume weighted moving average pretty extremely um. This looks extremely bullish guys.

This has been a you know longer than a one month. Bullish run, i mean we did have some days where right. This is a this is a long bearish stretch. But overall, if you look at this, this has been bullish right, macroscopically, that's uh! That's that's! Very heavy buying pressure right and the rsi indicator is saying the same thing, so that makes me a little bit nervous.

This is one thing that i don't particularly like about the charts on this is that this has been in overbought territory for over a month now and typically when the rsi is overbought, which is anything over 70 30 is anything oversold. Typically, when it's over bought you're going to see a correction into the oversold category, the only thing that is giving me some comfort here is the fact that the stock was pretty extremely oversold for about as long so, it's tough to say and whether we will continue This stretch or not, but we're going to look at the one day one minute chart and give us some entry and exit point ideas. If you'd like to get into the stock, i'm going to disclose and say that i did not plan on getting in i'll show. You guys my current positions, um, i am in idx, jagx and ocgn, and all those stocks for me are treating me pretty well right now.

Idex is up to about 230 and some change jag x, i'm up about 72 percent ocgn. I am down at the moment, but i am going to hold um okay, just because i'm really liking the consolidation that it's been having. I might actually throw in another three four five hundred dollars, just to average down from my my average cost of 320. We will see um if it drops another.

You know three, four, five, six percent, i'm probably just going to cut my losses and call it a day. So i'm going to stick with those core positions and if i do get out of ocgn, i might hop into zome i'll, be honest. But it'll really highly depend on the price action that i'm seeing on that today, as well as the price action that i'm seeing on zone. So, let's take a look at the two day chart right here and we'll take a look at some of the price action.

You can see that we had a prior level of resistance, which is now going to be an acting level of support right here at about 36 64. and another prior level of resistance. That will be an acting level of support right here at 44.35 and if we zoom out and look at the charts here, you can see that we hug these lines pretty. Well, honestly, it's uh! It's funny how that works, how traders pay attention to that kind of stuff? You can see that we have a couple of false false breaks over another false break over and then drop back below that level of support.

So that's currently, where that one's sitting you know we do have this fallback at 36.64 support level and honestly, i am going to be watching to see if we retest that i do like this stock a lot more at 36 cents than i do in the 40 Cent range - and that is because we don't have any price action in the zone here, guys we gapped up and typically when a stock gaps up, it fills the gap eventually right and once we get some price action in that zone. We'll have a better idea on whether we are going to bounce off of this 35 24 and and come back up and pass through 40 cents or if we're going to shoot back down through 35 cents. Because um, i just the more price action that you can see on these charts and the more candles that you get to look at the better of an idea. You're going to have on what's happening on on a given stock and i'm just kind of unsure on.

What's happening here because this gap up that's a bullish, sign right, a gap up is a bullish sign, but uh it's got downward pressure right now, selling pressure. So once it fills that gap up i'll have a pretty good idea. But if you are looking to get into the stock, i would look to get in at this level of support at 36.64. You know it is on an overall bullish trend.

It is looking really good for the last two weeks. It seems like it's got a pretty solid bullish day, followed by a couple red days, couple bullish days, followed by some red days, so you can play this out as a swing trade if you'd like to get in as a mid to long-term investment. That doesn't seem like a terrible idea. The trajectory that they're going right.

Now you know - i i i wouldn't you know it is a penny stock. You know, they're trading for under a dollar, so uh be be cautious. There right there's a lot of risk involved, but they are on a pretty solid one-month trend, just looking at it from a technical perspective. So just keep that, in the back of your mind, i would be looking for an entry point around 36 cents, an exit point uh if you are up 10 to 50 percent on this stock and you're.

Looking at this as a day or swing trade be completely content getting out right. 100 growth, like we saw at jagx um bngo ocgn. That kind of stuff does not happen very often. I i don't think people realize that we're watching some some freaking unicorns run right in front of us with our very eyes.

That is insane. So if you can get up, you know 10, 20, 30, 40, 50 on the stock um from 36 cents or whatever entry point you you are able to get in at. I would consider taking profits at that point, because that is a very good day or at the very least, uh set a turning stop loss. So let's say that you go up 40, you set a trailing, stop loss for 10 and then from that point on any time that the stock drops to that 10 line.

It'll sell either all of your shares or whatever amount that you designate. So that is how i would personally play the stock out. They are on a on a one day: bearish run. We did see a pretty nice gap up in the in the pre market and after hours yesterday, um, that's not quite shaping up to see that we'll do the same thing yet you know it has been a little bit of consolidation.

I would argue so we'll see how it goes right. Um, i'm gon na be watching this stock. I'll keep this on my watch list. I do think it has potential to do some good things um, but for now i'm gon na be watching to see if we drop back into the 30.

The mid 30 cent range right. So that's a that's a much better purchasing point. So that's what i have for ticker symbol zom today. I hope you guys enjoyed the video.

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My friends and i will see you all next time: peace.