$DGLY (1hr Chart) - It's not looking so good short term
I've been pretty bullish on DGLY over the last few weeks and really hoped @DigitalAllyInc would capitalize on the trend with more solid news and announcements from sales or contracts. My original PT has ranged from $5 - $6.5 and I still stand behind that value. It's become evident that the management, CEO and PR team just can not with any confidence produce the appropriate buzz for this stock to survive in a low volume, low news event situation. Therefore we are left with a now very evident downtrend in the 1 hour chart. I do not see this recovering without a catalyst and as of today we are retesting new low supports of $2.80. I think we will see this possibly retest $2.50 again before leveling off.
In that, I had liquidated 90% of my shares last week and have decided to purchase more down here in the sub $2.80 ranges as it dips to increase my position. I believe with all the politics and combustible relationships between cities and their law enforcements, it is only a matter of time before we see $DGLY come back to hold a +$5 PT for a considerable amount of time. It will then be on the company and their executive team to decide if they want to be a serious company and stay there or keep playing racecar wasting good ROI capital on horrible brand placement.
In that, I had liquidated 90% of my shares last week and have decided to purchase more down here in the sub $2.80 ranges as it dips to increase my position. I believe with all the politics and combustible relationships between cities and their law enforcements, it is only a matter of time before we see $DGLY come back to hold a +$5 PT for a considerable amount of time. It will then be on the company and their executive team to decide if they want to be a serious company and stay there or keep playing racecar wasting good ROI capital on horrible brand placement.