If the stock can break below these support levels the stock is prone to see a strong downward push. Assuming that TRCH's assets are worthless, based on Metamaterial's market cap, that values TRCH at 198 x 25 49.50M, which equals a share price of 49.5M/143M 0.35. Eventually a break above the $10 resistance could bring about a strong bullish move.īearish traders would like to see the stock fall below the $6 level and the higher low trendline. If the stock can see a bounce near these levels bullish traders would like to see the stock begin to work toward the $10 resistance. The stock continues to trade along the higher low trendline, this trendline may add another level of support near the $6 further adding to the possibility that the stock could see a bounce here.īullish traders would like to see the stock find some support near the $6 level or the higher low trendline.The $6 level was also a level of resistance previously, but as the stock price trades higher than this level it may now hold as support. ![]() On June 11, Torchlight announced that the merger with the maker of.
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