Energous Corp, symbol WATT, a small cap tech company with a break through technology, remains very high on our watchlist. It is one of our favorite companies.

In recent months, there have been rumors that Energous (WATT) would partner with Apple. WATT delivers wireless charging technology, and the rumors are that Apple is very interested to offer this technology to its customers with their notebooks and tablets.

This week, again, we came across another article which suggested that WATT would partner with Dialog Semiconductor, an existing partner from Apple, to co-offer Energous’ wireless product. A blog called Macrumors published this article about Energous Corp.

WATT’s chart looks amazing. There is a clear pattern of higher lows in 2016. Also, WATT is now only 15 pct from all-time highs. With increasing trading volume, as shown on below chart, we believe that WATT could be setting up to become a multi-bagger in 2017.

As soon as a deal with Apple, through Dialog, would become official, we see this stock easily doubling or tripling in a matter of weeks. Moreover, WATT is convinced that it will be breakeven in the second half of 2017. If they make that forecast true, this stock will be a multi-bagger.

One potential risk: the market is adding short positions, as seen on Finviz. There is an increasing disbelief that the rumors of this company are for real. We would give this company the benefit of the doubt, but recommend to keep positions small given the high risk.

(Click on image to enlarge)