An In Depth Technical Analysis of BYOC and What It Could Mean for its Future
When speaking technicals of a stock –especially a penny stock that you may be long-term on –you, of course, have to start from the very beginning of an uptrend. This uptrend for the stock BYOC began at a measly .0001. To start, one thing that I have always taught to my students is the importance of price channels and understanding just how many shares were exchanged in those given price channels. Understanding the capacity of the shares exchanged within certain price channels, both low and high, can really open your eyes in terms of long-term validity behind a movement and if a sudden dump awaits. So, the first step with BYOC is what happened not only under a penny but under even sub pennies in the triple zero price channel. Let’s take a look at some statistics within these price channels.
To gauge our standpoint on BYOC, we will be looking at the entire last year of price activity.
First Key Price Channel : .0001 – .0009 : Primarily Encompassed the Date of 10/1/2016 – 06/08/2017
Approximate Shares traded within the .0001 – .0009 Range During These Dates : 176,804,000
This leaves us with June 8, 2017 –which is a key date in the last year for the stock BYOC. This date marked the time that BYOC had essentially left .000 trading and spent its time in sub-penny land. To analyze this price channel of .0001 – .0009 more, I can’t say anything other than this is very bullish –to see so few shares traded within this range. Typically, you would see 100’s of millions –even billions on some stocks to get out of this price channel. This shows that it is very unlikely that many traders purchased shares of BYOC in this price channel. This also shows just how thin this position truly is.
Second Key Price Channel : .001 – .0099 : Primarily Encompassed the Dates of 06/08/2017 – 10/09/2017
Approximate Shares traded within the .001 – .0099 Range During these Dates : 198,600,000
Now, to analyze this price channel is to say it was a perfect execution of proper shift of price channels. This is showing we traded more shares within .001 – .0099 then we did in trip zero trading of BYOC. This is a successful churn of price channels and what ultimately leads to the continuation of runs. This shows, more than likely, most trip buyers have sold and either left or bought back in. This means a higher base of overall ownership by all shareholders. We will now begin to analyze each cent mark together.
Third Key Price Channel : .01 – .02 : Primarily Encompassed the Dates of 10/09/2017 – 10/19/2017
Approximate Shares traded within the .01 – .02 Price Channel During these Dates : 69,215,000
Fourth Key Price Channel : .02+ : Primarily Encompassed the Dates of 10/12/2017 – Present
Approximate Shares traded within the .02+ Price Channel During these Dates : 28,222,000
When analyzing these two prices channel of .01+, something I learned in the OTC, is that the traders who are trading positions .01+ are typically traders who hold for longer periods of time than those in sub-penny and trip land. I also believe this is very evident of other indicators which will be described below. We have traded essentially 100 million shares over a penny now and already about 40% of that is over .02 – .025. This is a very strong sign of continuation towards .03 and further. We haven’t even crossed the .025 mark and have already churned out almost half the volume from .01-.02. This means, once again, new traders are stepping in, current holders are averaging up, and another base is being built above this .02 level. To conclude on the price channel aspect of BYOC, I see nothing but bullish indicators thus far. Yes, there are essentially 100 million from sub penny that must be accounted for, but I believe we will conclude that number between this .025 – .03/low .03 mark. This will essentially give us a concrete base in pennies based purely off price channels.
100 million shares traded above a penny when there were 176 million traded in trips really tells you something about the base that has been established in pennies.
Now let’s take a look at some other important indicators and what it could mean for BYOC and our technical conclusion
In terms of accumulation with BYOC, you can see a strong evident uptrend since triple zeros. This is a stock that the majority have not only been buying but holding and adding. With no breaks in the accumulation, it is a very bullish indicator of continued accumulation and uptrend of the stock.
ADX and DMI+-
ADX in conjunction with the DMI (Directional Movement Indicators) are indicators that measure the strength of a trend. As of now BYOC is registering a very strong trend of 56.08 meaning that this uptrend is not only maintaining but also very strong. DMI+ is staying steadily above the DMI- meaning the prices are staying up not down. We are seeing those important higher highs and lows.
Current Pivot Points showing a clear shot to the .0316 level after the new 52 week high were made today (20 October 2017). Currently, BYOC is in pretty wide open run territory again.
MFI is staying steady –showing that selling is being met by just as much buying. The OBV showing another possible spike which is indicative of another possible jump in share price.
It is very difficult to find anything bearish in terms of technical analysis on the stock BYOC. When you look at price channels, MFI, ADX, Accumulation, MACD, OBV, and others it’s simply in full control of the bulls. Now, does this mean it will go up? No. Does it mean it will go down? No. Everything in charting is about probabilities. What BYOC represents is a very strong probability of success. The important aspect to remember is that charts aren’t everything. BYOC could release terrible news and it could crash. Do I think that will happen? No. What this Blog is about is the simple fact that the technical aspect behind BYOC is astoundingly strong and I don’t think anyone can begin to argue that, especially after today (20 October 2017). So my FINAL conclusion based solely off technicals is that we see BYOC continue to climb for some time to come.
Technical Analysis by Alex S; Owner/Founder
You can follow him on Twitter @SUNNYLAND24
Compiled/Proofread by Noëlle H; CTO/Site Administrator
You can follow her on Twitter @subliMINXal
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