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AUVI for NASDAQ:AUVI by SmoothJB

Applied UV Inc (NASDAQ:AUVI) with such a great trading day and news, this stock should be closely watched next week. I think there is a good chance for further gains as this stock went from much lower prices, 5 to $35.78 just last month. Could we see that type of rally again? That is the best thing about this market, anything is possible. Yesterday, SteriLumen tweeted that the LEDs in their devices have been proven to kill Coronavirus in seconds. That’s a remarkable argument in pandemic times, which could easily boost its sales. From a technical standpoint, the stock has been consolidating within a falling wedge pattern on H2 that has bullish implications. A breakout is needed to end this large consolidation and resume the uptrend. At this point I’m inclined to mark a key resistance zone around 9.5- 9.75. A move above this area, would break the upper trendline and the resistance zone . If a breakout occurs, we could see an acceleration of the bullish momentum and move toward the 13.75-15 area. Technical indicators are looking bullish , MACD and RSI are showing upward momentum. Now add the bottom play factor along with Yesterday’s positive tweet and the potential upwards move gets a little more believable. I doubled my long position before the close.

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