Technical outlook – Going from the daily chart assessment, the bullish sentiment was established in late March 2020, after posting a $0.37 trough.
Since then, prices have continued to trade in a northbound fashion until recently, at the beginning of July 2020 prices have hit a wall of resistance from $1.00-10.
From the initial mild pullback, the two leading indicators, the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) both at present, are strengthening to a potential bull-run.
A break above $1.10 is expected to lead the bulls on a quest to the region of late 2015 at $1.40-50. Reassess from there.
The support is located at $0.80-85
Company Overview – Mach7 Technologies Limited (M7T, formerly 3D Medical Limited) is a global provider of enterprise image management systems that allow healthcare enterprises to identify, connect, and share diagnostic image and patient care intelligence where and when needed.
M7T develops data management solutions that create a clear and complete view of the patient to inform diagnosis, reduce care delivery delays and costs, and improve patient outcomes.
Former Names: Safety Medical Products Limited (01/08/05); Syringe Safe Technologies Pty Ltd (01/05/01); Safety Medical Products Limited (SFP), 16/02/2015; 3D Medical Limited (3DM), 13/04/2016