SCKT( Socket Mobile)
Market Cap- 6 million
Shares outstanding- 8.2million
Institutional shares- 6.5% ( 28 institutions total)
Most recent insitutions purchase- Two Sigma, Virtua Finance.
Insiders shares- 32%
Short interest- 0.68%
SCKT has been having very high volume of trading the past two week. Upwards of 300 million total so far. It has caught my attention and I began to look into the technical side of things first.
The 1Yr HA chart has built a doji candle from a previous 3 years of bearish candles. This is the first good alert for me.
Then I scaled into the 1 month HA chart, another doji following a bearish candle. Okay, I like this.
1 week HA chart looks even better, a doji was formed the last week of September following a bearish candle. This week is now forming a solid bullish engulfing candle.
At that point, I’m looking back at 1yr to find a solid entry for next year in anticipation of a bullish candle on the 2027 year. That number looks like anything under 1.40. Split that in half and .75-.70 looks like a great area to begin building a position with a minimum amount of risk/time.
Let me know what you think of my plan or if you’re seeing the same set up as I am.
Do your own research. Follow your own rules.
Cheers!