I’m a big believer that all known variables such as the impact of any current or (known) future share dilution, has usually already been factored into a stock. Long-term investors should be more concerned with the effect that the dilution will have on the shares over time while swing traders should focus mainly on the charts; get in, hit your target or stop & get out.
The flag pole (the impulsive move leading up to the formation of the pennant) off the mid-July lows was about a 400% advance in just 8 trading sessions. If the stock makes an impulsive breakout above the pennant, we could see a similar move & if not, no breakout = no trade. I would also point out that the Aug 1st reaction high is a key level that needs to be taken out as well. Most important, this is a sub-penny stock; extremely aggressive/speculative so definitely not for everyone.