Guys you want to know what i was doing when i was watching zom go to the moon like this. Now i'm just playing what is up. Everybody welcome to the trace trades, we're getting technical analysis on different stocks in the stock market, as well as potential buy holders sell opinions on these given stocks. I, like your purpose by saying that i'm not a financial advisor nor experts so take what i say with a grain of salt.

Let's just get right into the video today, we're gon na be checking out ticker symbol, z-o-m zometica. This is a company that i have absolutely loved for quite some time. We're gon na clean up the charts here just to give us a fresh start on how we can read the setup here, and i'm very excited to talk about this today. So, first off we're gon na start off with the fundamentals: the why? Why should you care about this company? Why should you invest in them? What do we have coming up? That we can predict right and then we're gon na look at the overall financial situation.

Any sort of recent news that may affect the stock price and then we're gon na get into the meat and potatoes of this, which is the charting. So on the charts, we're gon na look at the one month and the one day one minute chart to give us both a macroscopic and microscopic perspective of the price action. I've got three different indicators pulled up i'll, walk you through those real, quick, the rsi which has relative strength index. Anything over 70 is overbought.

Anything under 30 is oversold, and then we've got the 200 ema, which is purple trend line and the 15 ma, which is this blue trend line. 200 dma is the exponential moving average, and this is a price action based valuation trend line over a 200 day moving period to give us a macroscopic perspective of the price action and then the 15 day ma is the moving average. Some brokers accounts call this the sma, the simple moving average, and this is a price action based valuation trendline over a 15 day moving period, which gives us a microscopic perspective of the price action use both of these side by side. In order to get an idea of upcoming breakouts that we can be able to predict right, and if you were able to use these tools back when zone was trading at what would have been about 91 cents, you would have been able to experience an absolutely filthy.

Double up with this stock - and i don't think it is over quite yet so, let's get into the video. So let's start off with what the company does, what is zometica the medical corporation, formerly zometica, pharmaceuticals corp is a developmental stage. Veterinary diagnostic and pharmaceutical company. They're engaged in the development of products for companion, animals such as canine, feline and equine by focusing on needs of clinical veterinarians.

It is focused on developing three diagnostic platforms: a bulk acoustic wave sensor based veterinary point of care diagnostic platform for performing immunodiagnostic testing. Ramen spectroscopy based, i probably said that absolutely wrong point of care, diagnostic platform for the detection of pathogens and liquid biopsy assays for the detection of cancer along with related consumables, the company's true form of product candidate is an investigational device being developed as a point of Care biosensor platform zm020 is its diagnostic platform being developed to screen for a range of pathogens in companion, animal feces, urine respiratory and dermatological samples is developing zm017 as a canine cancer liquid biopsy platform, if we just check out their website really quick i'll. Just pull this up for everybody right now: they're developing veterinary diagnostics that improve both patient and practice health, their latest news. We pull this up right here.

This was posted on january 25th, 2021. So it is a little bit old but zometica signs to reform a distribution agreement with miller veterinary supply. So true, forma uh, we'll just read this first so medica. A veterinary health company creating point of care diagnostics, products for dogs and cats today announced that it had signed an agreement with miller veterinary supply for the distribution of true forma dometica's.

First, product plan to begin sales on march 30th, 2021., 2021 march 30th, is the date that everybody is waiting for right. This is when we're expecting a pretty massive run-up on the stock and we're gon na google, here's zomstock and just see if there is any other recent news that we can take a peek at and let's just read this really quick zone stock price, increased 95.6 percent. This past week, why it happened. Let's just take a quick read.

This was posted today on february 7th, so just reading this increased by 95.6 this past week as it went from 90 cents, 98 cents per share to 191 february 5th. Since there was not any fundamental news from the company announced this past week, it appears that the stock price increase was coordinated through social media. Some people do speculate. This was because of wsb.

It is entirely possible. I honestly, i think it's speculative it's possible for sure. Right because wsb has been pumping a bunch of different stocks, it's 100 realistic. That is the case, but if that is the case, it is going to make it much much more difficult to predict zom's price action right.

This could very easily be a pump and dump, and that's why i don't think this is the case, because if we do look at the price action guys, nobody has sold this. Yet if you want to look at all these social media, coordinated uh stocks such as nokia, right okiya, it was a pump followed by a hard dump, eb right pump, followed by a hard dump. This took a big big crap right. That's not the case here with zom.

I really don't think that's the the situation here. I don't see it dropping. You know all the way back down to previous levels. As we've seen, we both get into the charts when i think it's going to be a good entry point here, but i don't think that is realistic and uh.

This this article does seem a little bit misleading. There are references in to zome and stock trading groups on facebook, discord, chat rooms, stock trading, subreddits, twitter, hashtags and youtube channels. Throughout the week large percentage of zone shares were at a short, so some investors were pushing for a short squeeze. It's also worth mentioning.

That's almost mentioned on the wall street bets reddit group a number of times the wall street bets group became became known for driving at the stock price of gamestop, in order to send a message to short seller hedge funds in late january, as part of a major Short squeeze play, i don't know if you guys have heard about zometica, but they help our veterinarians and our furry friends said baskin in the paid video. So that's talking about uh. I still can't believe that that makes me laugh every single time carol. Baskin was paid 299 dollars to make this been a long video about zometica, but that helped push the price action too anyways gon na come here to the charts.

I don't think that's the situation here. Um my personal take wall street bets is not focused on zometica they're, not they're, focused on gamestop and amc, and everything else is just noise. It's a distraction, um. I would not take that into consideration with zome.

I do think zoma still a good play to get into, but i don't think this is one of those one of those situations or those plays we're gon na be looking at a quick pump and a quick out, but i do think you're gon na see a Pullback, how much of a pullback? Well! We can get a couple different ideas here. So if we look at the previous trends, look at this right, this huge run-up we saw from 41 cents up to 1.48. We can get an idea of how much we saw a pullback right. We held up pretty well 50.

Initially, we tested out 61.8 take out this large candle wick. It would look something like this pull back to about 50 percent. So if we take that same methodology right that same overall trend, we have been pretty overbought for quite some time. It is very likely we see a pullback, it's currently trading at 70 on the rsi.

It's pushed upwards to 85, more than one time right and the last time this happened. It did last for a couple days followed by a pretty long period of consolidation. So if you do follow that same overall trend, guys you're gon na be looking at a pullback to probably between sixty one point, eight percent and fifty percent, which is gon na, be between a dollar forty, seven and a dollar fifty eight. I do find it likely that you do see a pullback here in the future, as it has been running pretty harshly for quite some time now.

Of course, we cannot guarantee that happens. That is just how we're looking on previous trends. When we run up this heart, it usually does pull back at least some and uh. This stock is pretty volatile.

It is, it's got a lot of opportunity to rinse and repeat, and that does look like an opportunity here. Of course, my personal stance on this is it is the best the best opportunity to to hold this until at least late march march 30th, and we do have that true forma system, which is going to be commercialized if you're not familiar with what the truforma system Is i will show you guys this really quick, we're actually going to come to the zometica website and take a quick peek at the truforma system, so essentially what this is right, i'm going to come over here to uh, learn more about the form of system. So true forma, what do they do? Forma immunoassays deliver accurate, reliable data when testing for thyroid and adrenal disease, assay performance, metrics to determine specificity and sensitivity were determined with the gold meeting or exceeding the stringent testing standards found in a reference lab setting. So it's a way to monitor the thyroid and adrenal gland of cats and dogs specifically, and if they can commercialize this, it is a great way to generate revenue.

I think there is a huge demand for uh pet health, as there has been an increase in pet demand in general, right with more cats and dogs being purchased with uh, with colvin and quarantine to help as companion animals and such so. I think it's got a lot of potential. I think it's gon na be a four or five dollar stock by late march. I think that is the best opportunity to hold this play is as a midterm hold, but if you're looking for a swing trading opportunity.

Nonetheless, we do see that uh retracement wise - you see you know anywhere between a dollar, forty, eight and a dollar. Fifty eight is going to treat you pretty dang well, and a dollar 48 does line up pretty well as a level of uh support. So we are actually going to adjust this just a hair down, so we get a couple more touch points, one, two, three, four, five, six, seven different touch points and a dollar. Forty five.

So personally, i like the best entry points between a dollar, forty, five and a dollar. Fifty eight i'm not guaranteeing. This is going to happen tomorrow, right, i i i would imagine sometime between you know tomorrow and probably thursday or friday. If you look at previous trends on the stock right, patience pays patience pays patience pays please please, please do not follow the stock.

My friends there's so much time. There's so many stocks out there to get into we as traders, traders t-r-e-y d-e-r-s do not chase stocks. Don't chase this stock, i really really want you guys to get into this for the best possible price and it will present itself to you. I promise i promise i promise.

I promise be patient so somewhere between dollar 45.58 should treat you well currently overbought on the rsi volume, a little bit inconsistent right. We do see huge pumps in volume when it does run and when it doesn't run, volume drops a little bit it just trades sideways. So this is a stock that might take a little bit of patience. This is also a chris sane penny play uh and i did make a video talking about his penny plays in a different video.

If you want to check that out, but i've got a lot of faith in this company, i think it'll do well entry point with 45 and a dollar 48 should treat you well uh big gap between the 15 and the 200 ema very bullish in nature. Gon na check this out on the one day one minute chart for any last minute, confirmations uh. As far as exit points go, you can watch for a re-test of this uh, this top at two dollars and one cent that should treat you pretty well. If you run up between 20 and 30 percent you're happy taking profits, that is 100 acceptable and that would be a total total uh, 20 to 30 run up guys.

If you turn a 10 profit on your portfolio eight times, you double your account. You turn 10 profit 12 times you triple it. You stack these nickel and dimes over time, nickel and dime over time. Baby you're gon na build your portfolio into something, absolutely dirty.

That's how i turned my fidelity account from eight thousand to forty six thousand in about about two months or so so i recommend you to do do the same and just add it up slowly over time. So if we do check out the overall theme here right, we do see this initial run up right. We see this upward moving channel, followed by a break wide range candle bar breaking beneath this descending level of support, and for the majority of the day after that, we did just mainly trade sideways. We do have a slight stair stepping up slight of moving channel and then a slight downward moving uh descending level of resistance did break below this uh ascending level of support pretty harshly sold off, get back up finish the day right around.

Where we closed so not a bad day for zometica, we did finish with the 15 ma cross over the 200 ema microscopically speaking, which is a double confirmation to to bullish territory. However, i do find it more likely that you do see the stock pull back. If it does run up guys, you want to get in on the initial run-up on monday, please be very careful set a training, stop-loss uh for five percent ten percent, but if it does end up pulling back right, it was a false break. You don't lose profits.

You can secure secure the bag and get back in at a better entry point which i think is going to be between 1.45 and 1.58. That is what i have for the video today guys if you enjoyed it, please drop a like if it does help support the channel and consider subscribing if you like, to see more content like this. Lastly, i have an affiliate link in the description box down below for weeble weeble is the version for desktop which you're watching me use right now here on the computer. They also have an app on the phone.

If you use my link to get two free stocks for the 100 deposit and i'll also receive a free stock, great way to support the channel, if you're not interested, my friends, that's totally fine. I just appreciate your support by taking the time to watch my videos, so that is what i have for you guys today. Thank you for watching my friends and i'll see you all next time.