Is This $2 Stock Going to Skyrocket Again?

Yesterday, I covered a stock in the exciting field of exoskeletons.

Today, I have another stock in this industry that looks poised to skyrocket higher.

This $2 stock that could give your account a bionic boost

Ekso Bionics (EKSO), describes itself as a developer of “technology to enhance human mobility, strength and endurance”.

On January 30th EKSO announced a joint venture with a Chinese venture capital company to develop, sell and support exoskeleton products in China.

On this news, the stock jumped from $1.63 to as high as $2.19.

The $2.10 – $2.20 level has long been a pivotal price range for EKSO, so it’s not surprising that it would stop there.

EKSO has been consolidating below the news event day high since the January 30 news event.

As a result, a move over significantly over $2.20 would represent a good-looking breakout.

Now a ‘double breakout’ pattern is forming

On Wednesday EKSO attempted to breakout over the recent consolidation level. Yesterday it consolidated at its higher level.

This “breakout then consolidate” pattern is common before big bull moves.

The most compelling piece of this pattern is that the second consolidation is above the news announcement high.

Therefore, the set up for a trade is to buy over $2.30 with a stop under $1.90.

This stop is based on the fact that there is price support just above $2, and the 200-day moving average is at $1.93.

Trade smart,

Rick Nartarian, Chief Investment Officer
The American Investor Daily