We caught a perfect buy spot when we went for Reliq Health Technologies Inc. (RHT:TSX.V; RQHTF:OTCQB; A2AJTB:WKN) at the start of the month (it was recommended in a Market Notebook update), as right after it proceeded to break out of a quite large Head-and-Shoulders bottom to rise quite steeply, resulting in good percentage gains for us in a short space of time.
The purpose of this update is to point out that it still looks good here.
It is, in fact, at another buy spot as it is starting to break out of a completing bull Flag that has formed over the past couple of weeks, as we can see on its latest 1-year chart below.
November 21, 2022, would have been the perfect time to buy, of course, because it ended up adding CA$0.04 by the end of the day, but it still looks good here as a breakout from the Flag should lead to a rally of similar magnitude to the one preceding the Flag.
We, therefore, stay long and this is a good point to add to positions or make fresh purchases. Reliq trades in reasonable volumes on the US OTC market.
Reliq Health Tech closed for trading at CA$0.71, $0.54 on November 21, 2022. It is currently trading at CA$0.69.
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The above represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.
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