Almost a month ago, I mentioned how riots could trickle down into volatile price movements for stocks in the defense protection sector (in case you live under a rock). Civil unrest continues after another botched attempt to provide "justice to the streets". Wallace, a 27-year-old Black man, was the casualty after a police confrontation. I'm not here to give you depressing news stories, the point is people are reacting exactly as we had expected. Riots and looting continue to be an issue, now featuring brick-throwing at law enforcement. That'll show em! We're not bad people for profiting off of the misfortunes of others here, we're just playing the cards dealt with us. It's a shame these events are happening, but I'm not trying to eat half-off appetizers from Applebees for the rest of my life.
Digital Ally is an industry leader in mobile video solutions for law enforcement, fleet vehicles, and event security teams, per their own website and Twitter account. Talk about self proclaimed. They have multiple products to aid law enforcement, with the main focus being their ThermoVo Non-Contact Temperature-screening instruments and their body-cams. Law Enforcement Products made 59% of their business in 2o19, which included: In-Car Video (80% of total law enforcement in 2019). Body-Worn Cameras (20% of total law enforcement in 2019), and customers that include city, state, county, and federal law enforcement agencies, and military - international and domestic. The hype is here guys. The need for this equipment is there; the theme heading into November is aligning and simply put: bitches be crazy.
Canvassing effort in West Philly links election to fight against police brutality: “You’re knocking to save a life”
After two nights of protests, curfews are being issued out in Philadelphia. Things are getting ugly, or should I say, DGLY.
I'll see myself out.
- A **falling wedge pattern is a continuation pattern that represents a bullish move incoming. This reached $7 in June and $25 during the Ferguson riots.
- Relative Strength Index indicating overbought territory at 56, giving us an overvalued valuation based-off current prices. Anomalies aside, it should represent higher prices and spikes.
- It's trading above the 20, 50, and 200 Moving Average lines. It's looking to reverse from its downward channel, and I expect us to see a bigger move on the upside as we head into the election.
- I think 2.15-2.25 is a great entry with low risk. I expect to see at least $3, but am looking for a move towards $3.50 with the way things are. We need volume to get things going higher.
**Falling wedge example below
Hopefully, things don't turn out as bad as the Ferguson riots, that would be awful! But, in the event it did, DGLY has room to hit the $20 mark. Philadelphia is already struggling with looting, riots, and overall mass chaos. As I type this, Walmart has just been looted of 18 televisions and 12 razor scooters. It's okay though, big corporations deserve it! Eyeroll. I like DGLY as a stock to swing into the election and it'll be interesting to see what happens after. Regardless of who wins, I can see rioters marching the White House with their baby rattlers, pacifiers and a whole lot of dirty diapers.
**Not a financial advisor. Articles are opinions only.
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