BYOC REVISITED : IS IT TIME FOR NEW HIGHS?
FOUR MONTHS AGO:
Four months ago, we did a blog packet on BYOC and this was my Conclusion:
See full Blog Packet Here
After all this time and historic climb we have had to .15+ we will re-examine the technicals of BYOC and come to a final conclusion. Will BYOC re-break its 52 week high? Are the technicals as strong –or even stronger than they were in October? Can BYOC see .25 , .50, or even more? We will give our honest opinion on these questions based off the technicals behind this movement. We will also base our decisions on how the current technicals compare to the technicals from October 2017.
Analysis: The Accumulation of BYOC is remarkably strong. The indicator is significantly higher than it was in October and nearly at an all time high currently. This indicator is not only near all time highs again but also continuing to climb. This increase of accumulation alone shows how locked up this stock is and shows no sign of stopping. If there was one reason I would say BYOC hits .15+ again it would be because of what I see here.
ADX with DI +/- :
Analysis: What I see here is another extremely bullish indicator. I’m sure some of you are saying “how,” because the ADX (black line on bottom) is declining, meaning losing trend strength. Normally, I would agree with that, but I noticed a strikingly similar trend from November (.02-.03 cent area) to what the ADX is showing now. Back in the November/December time frame you can see where the ADX declined right before the huge pop to .15+. In this same time-frame you can see how the DI+ (green line) came very close to DI-(red line) –practically touching. Now take a look at our current time-frame. In our current time-frame you can see that same decline in ADX, meanwhile, the chart is setting up perfectly for a huge pop. Now compare the DI’s from now to the ones from Nov/Dec time frame. They are very similar with both DI+/- practically touching one another. Based off trend history, the ADX line here may very well be proving resets for huge pops on BYOC. This will be a very interesting indicator to continue to monitor and see if that big pop does happen.
OBV (On Balance Volume):
Analysis: I always try my hardest to give a non-biased technical opinion on positions but with BYOC it is hard. It is hard for one reason only, everything about BYOC technically is perfection. That is my honest opinion. Once again, as we can see above (much like Accumulation), OBV is climbing and working towards all time highs. What this shows for BYOC is that, even with the large price increase, it is still receiving adequate volume to maintain its trend upwards. The volume remains strong and is steadily increasing.
CMF (Chaikin Money Flow):
Analysis: Look at the similarity here to that of the ADX line above. The CMF shows us that the last time a decrease in CMF occurred, it led to a very large pop north. We are seeing that same downtrend now in CMF and I do believe a similar pop may be close. The chart is telling a very clear story here.
Like I said above, it is very very difficult to say anything bearish about BYOC. The ADX and CMF shows signs of a possible huge pop coming. The Accumulation and OBV show the stock remains stronger than ever –almost as strong again as it was at .15+. This is telling me we are very close to testing that 52 week high again. Based off everything I’m seeing on a technical level, I do believe .15+ will be tested again in the short-term. I believe if BYOC releases more acquisition news it is very possible for this to test .25+ . I believe the more acquisitions announced, the strong technical prowess, and zero dilution make it nearly impossible to predict a ceiling on BYOC at this point. BYOC has made OTC stock history, it simply has, and that’s the best way to describe it.
Let us know what you thought of this blog by leaving a comment below or submitting a CONTACT form! We love feedback! If you haven’t already, be sure to sign up below for our blog alerts to be notified as soon as we hit “publish” on new ones!
Subscribe to Blog via Email
Technical Analysis/Opinions of 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
If you’re interested in joining the Sunny Money Family, you can get registered HERE!
Be sure to check out our SERVICES page if you’re interested in being a part of our online learning community offering chat, forums, and webinars. If you have any questions, comments, or concerns regarding this post, let us know by filling out a contact form or leave a comment below. We’re happy to help! You can also follow us on Twitter @SunnyMoneyFam to see what we’re up to.
**Disclaimer: Sunnymoneyfamily.com encourages readers and investors to supplement the information in these reports with independent research and other professional advice. This is independent research done by our team but also contains many opinions. Always be sure to trade at your own risk and your own loss. Sunnymoneyfamily.com is not a Registered Investment Adviser, Broker Dealer or a member of any association for other research providers in any jurisdiction whatsoever and we are not qualified to give financial advice. Investing/trading in financial securities is highly speculative and carries an extremely high degree of risk. For further clarification, please see Terms and Conditions.**