TITAN MEDICAL INC (OTCMKTS:TITXF) Trading Outlook
The Offering price is the key here
Titan Medical Inc. (“Titan” or the “Company”) (TSX: TMD) (OTCQX: TITXF) has announced that it intends to commence an offering of units (the “Units”), each Unit to consist of one common share and a partial or whole common share purchase warrant of the Company, by way of a prospectus supplement (the “Prospectus Supplement”) to the Company’s base shelf prospectus dated August 18, 2015 (together with the Prospectus Supplement, the “Prospectus”), to be filed with securities regulators in Ontario, British Columbia and Alberta and on a private placement basis in the United States, on a fully marketed “best efforts” basis, with the pricing and terms of the offering to be determined in the context of the market (together, the “Offering”).
The market is expecting an offering price of $1 including the value of the warrant.
TITAN MED INC closed down -0.210 at 1.000. Volume was 471% above average (trending) and Bollinger Bands were 14% wider than normal.
Open High Low Close Volume___
0.996 1.190 0.910 1.000 787,574
Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 1.04 1.05 1.25
Volatility: 141 72 65
Volume: 237,497 122,118 125,587
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
Summary
TITAN MED INC is currently 20.2% below its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of TITXF.PK at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on TITXF.PK and have had this outlook for the last 2 periods.
Positive Candlesticks
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 26 white candles and 22 black candles for a net of 4 white candles.
A long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).
A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
Consolidation in Momentum
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
Stochastic Oscillator
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 61.0308. This is not an overbought or oversold reading. The last signal was a sell 0 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 45.44. This is not a topping or bottoming area. However, the RSI just crossed below 70 from a topping formation. This is a bearish sign. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 0 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -18. This is not a topping or bottoming area. The last signal was a sell 0 period(s) ago.
MACD
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 2 period(s) ago.
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