$REKR Rekor Systems Looks To Close The Gap At $1.72 to $1.85

$REKR has popped up on our radar after 2 days of climbing the chart on nice volume. The stock is now trading above its 20, 50 and 200 day moving averages. Looking at the chart, we see that there is a gap that needs to be closed between $1.72 and $1.85. Judging by its history, we believe the stock can do it and then some.

What's been pumping the stock lately has been a lot of news flow coming out of the company about its NUMERUS™ cloud-based solution for electronic tolling. According to the company:

Numerus'™ easy to implement cloud-based solution costs less than 75 cents per thousand for greater than 5,000,000 transactions per month. Beyond reading a license plate with industry-leading accuracy, NUMERUS™ provides unique two-part authentication by instantly identifying the vehicle's make, model, color and body type along with the license plate read. NUMERUS'™ machine learning enabled software recognizes license plates from all 50 U.S. states, in addition to plates from more than 70 countries around the globe on six continents.

$REKR has just signed deals with Colorado and Northern California. Judging by the number of press releases over the past month, we expect quite a few more to hit the tape and that just might be the catalyst to close the gap.

For traders looking to take a position, probably need to place the stop at $.90 a share. We know this is big on a percentage basis, but we think the risk/reward is there. $REKR could easily be a double if it gets going as it has in the past.

As always, trade with caution and use protective stops.

Good luck to all!

Trade closed: target reached:

$REKR target of $5.50 reached.

Congrats to all who participated!