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Bullish Gartley

About CFMS

Conformis, Inc. (NASDAQ: CFMS), is a medical device/ technology company that uses its proprietary iFit 'Image-to-Implant' technology platform to develop, manufacture and sell patient specific joint replacement implants that are designed to fit each patient's unique anatomy.

Technicals

  • Bullish Gartley pattern (786 retracement)
  • Fibonacci confluence at the 1.272 extension
  • 382 continuation pattern (Keeps bouncing off and making higher lows-- if it continues it could be used to further add)
  • In-line with Fibonacci time-cycles
  • RSI pushing higher on Daily and Weekly
  • Potential gap up to fill up to the $2.75 level.


Conclusion:
CFMS has sufficient funds, great management and recently received some 510 certifications while broader markets were selling off. Looking to re-claim those prior gains. Will revisit the trade at or around time of the gap filling.

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Disclosure: I am long CFMS. This is not a note to buy or sell, please do your homework before investing.
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