Swing trade idea - $VRME
30 second read to catch you up on the company (growth monster)
“We have seen our fintech and API customers grow 20X since January. In terms of revenues, we are certainly 10X compared to 2019 and expect to be profitable in early 2021 meeting a US$2 million revenue target.”
Daily view: VerifyMe IPO’d this past June, and appears to be breaking out of a cup and handle pattern on increasing volume.
Weekly view: A close above the ATH close of 4.52 could set this stock up for further upside. There are no serious resistance levels above here, resulting in a “blue-sky breakout.” These breakouts can be explosive and run higher than seems logical.
VRME also has warrants under VRME.WS or VRME+ depending on your broker. These are exercisable for 1 share of VRME at $4.60 and expire on 6/17/2025. Currently trading at $1.35.
As always, it is vital to manage risk and have a stop in place.
Disclosure: The above references are an opinion and are for educational purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.