WATT blew thru 16 & 17 level resistance and now sits on top of 17 level this morning due to an announcement that Dialog Semiconductor has invested an additional $15 million in Energous/WATT (on top of prior $10 million investment) - another nail in the short thesis coffin (who argued they would screw shareholders and dilute by mid May of this year...). CEO
Steve Rizzone had responded to a question about dilution in his last CC
& promised they would do what was best for shareholders & employees, hinting he had partners to turn to before diluting shares. Thanks again to Rizzone for keeping that word. The question remains, Is WATT's Wattup wireless charging technology going to be in Apple's new product line this Fall? Signs increasingly point to yes, but I'm holding strong regardless. Still, there's a big short position here so I recommend selling puts to enter (or simply to pocket free cash) since they will likely try to bring the price back down by any means before FCC approval is announced & the Great Squeeze begins lol.
As for the TA, off of which resistance will we get that bounce back and what will be the new support level
after this $15 million investment news? I'm guessing we'll hold over 17 during the day and maybe close just below that or basically within the upper longer trend line
(which we've tested today)...beginner TA charting, thoughts welcome!