Energous Corp (WATT), a provider of wireless charging technology, has been all over the news in 2016. The company is said to be partnering with Apple (AAPL), and that the next generation iPhones would be foreseen with their wireless charging service. We provided coverage about Energous Corp stock price in Energous Corp (WATT): Huge Breakout Of A Future Ten Bagger In The Making when its stock price was trading much lower, and the stock as a potential multi-bagger.
The stock price of WATT is now at another very exciting level: 8 percent below all-time high resistance. A breakout would be big news, given the recent chart pattern, suggesting buyers are strongly in the lead. Watch the chart below, with a continuously rising trading volume on a series of higher lows, right below all-time highs.
It is clear that there is a lot of speculation around this stock given the 32.9% short float ratio. In other words, many are shorting this stock, but nevertheless the stock price goes steadily higher.
This week again Yahoo! Finance commented on Energous Corp:
Energous Corporation WATT, a developer of a wire-free charging technology that promises to offer long-distance wireless charging abilities. While Energous is a long way from successfully delivering on its early ideas, many are linking Apple and Energous, and we could see some Energous tech in the iPhone 8.
This is the type of rumor we constantly see in the headlines. It implies that, when the iPhone 8 comes out and would not include Energous Corp’s technology, the stock price will correctly sharply. That is also what happened in October, when iPhone 7 was announced without wireless charging. But, as seen on the chart, buyers took over control from sellers after a 35 percent retracement.
As Energous keeps on iterating that they are preparing a rollout with one of the largest tech companies in the world, it feeds the market with expectations that, sooner or later, Energous Corp’s technology will find traction. That is also the message on WATTs stock chart.