Resonant Inc (RESN Stock) bottoming for higher
Premium|Take advantage of 50% OFF on your first month.
Start your subscription and get access to all our original articles.
You have reached your limit of 5 free articles for this month.
Get Premium without limits for only $9.99 for the first month
Access all our articles, insights, and analysts.
UNLOCK OFFERResonant, like so many other stocks, has enjoyed a large rally off the March 2020 low. However, this stock has already corrected that cycle, and may be ready to move higher. Lets take a look at the company profile:
“Resonant (NASDAQ: RESN) is transforming the market for RF front-ends (RFFE) and disrupting the RFFE supply chain by enabling customers and partners to deliver 5G filters designed using its WaveX™ software tools platform. WaveX™ allows Resonant’s customers to capitalize on the company’s robust IP portfolio and extensive services offerings. In a market that is critically constrained by limited designers, tools, and capacity, Resonant addresses these critical problems by providing customers with ever-increasing design efficiency, reduced time to market, and lower unit costs. Customers leverage Resonant’s disruptive capabilities to design cutting-edge filters and modules, while capitalizing on the added stability of a diverse supply chain through the Resonant Foundry Program fabless ecosystem. Working with Resonant, customers enhance the connectivity of current mobile devices, while preparing for the demands of emerging 5G applications.”
Now that we know what the company is about, lets dig into the charts!
Resonant Elliottwave view
Elliottwave view from the all time low set in December 2018. From that low the stock rallied into a ((1)) which peaked in Feb 2019 @ 4.00. After ((1)) peaked, the stock had a very lengthy wave ((2)) correction. This correction took place as a double zig zag. ((2)) found a low at $0.95 on March 12/2020. From there the stock enjoyed an impulsive rally which peaked on Feb 9/2021 at $8.33. After that, a sharp correction has taken place which has overlapped on the previous ((1)) wave. This means the stock is taking shape as a leading diagonal structure within Red I degree. ((4)) found a low at $2.35 on May 13/2020.
In Conclusion, as long as the ((4)) low at 2.35 remains intact, the favoured view is this stock will move higher in extension for one more high before correcting the cycle from the 2018 low.
Resonant, like so many other stocks, has enjoyed a large rally off the March 2020 low. However, this stock has already corrected that cycle, and may be ready to move higher. Lets take a look at the company profile:
“Resonant (NASDAQ: RESN) is transforming the market for RF front-ends (RFFE) and disrupting the RFFE supply chain by enabling customers and partners to deliver 5G filters designed using its WaveX™ software tools platform. WaveX™ allows Resonant’s customers to capitalize on the company’s robust IP portfolio and extensive services offerings. In a market that is critically constrained by limited designers, tools, and capacity, Resonant addresses these critical problems by providing customers with ever-increasing design efficiency, reduced time to market, and lower unit costs. Customers leverage Resonant’s disruptive capabilities to design cutting-edge filters and modules, while capitalizing on the added stability of a diverse supply chain through the Resonant Foundry Program fabless ecosystem. Working with Resonant, customers enhance the connectivity of current mobile devices, while preparing for the demands of emerging 5G applications.”
Now that we know what the company is about, lets dig into the charts!
Resonant Elliottwave view
Elliottwave view from the all time low set in December 2018. From that low the stock rallied into a ((1)) which peaked in Feb 2019 @ 4.00. After ((1)) peaked, the stock had a very lengthy wave ((2)) correction. This correction took place as a double zig zag. ((2)) found a low at $0.95 on March 12/2020. From there the stock enjoyed an impulsive rally which peaked on Feb 9/2021 at $8.33. After that, a sharp correction has taken place which has overlapped on the previous ((1)) wave. This means the stock is taking shape as a leading diagonal structure within Red I degree. ((4)) found a low at $2.35 on May 13/2020.
In Conclusion, as long as the ((4)) low at 2.35 remains intact, the favoured view is this stock will move higher in extension for one more high before correcting the cycle from the 2018 low.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.