GNIN: A Low Floater Moving Under the Radar
6 Month 2 Hour Charting Used
As with all our past blog packets, we like to focus mainly on the technical setups of all possible large OTC movers. GNIN (Green Innovations Ltd.) is one that we have talked about on our site for quite sometime now and have been buying since .005’s. We continue to average up and support higher. With the recently announced merger with Zomongo TV –a company supposedly doing 10 mil+ in revenue –the open territory for a large move here could be tremendous. Let’s start as we always do and get into the technicals surrounding this move.
Analysis: What you see on the accumulation meter above is obvious strength. You have the sharp increase then steady sideways action during some churn and burn as the stock fights for new highs. What this shows us is that the “size” is being held. What I mean by “size” is the large shareholders and majority of traders on this are holding all their shares. This lock-down of shares is creating the sharp increase in this meter which should continue to play a crucial role going forward if the large holders continue to hold. If the large holders continue to hold and this accumulation continues to climb, the GNIN share price will keep climbing with it.
ADX with DI +/- :
Analysis: I like to use ADX to measure the strength of a trend and I included the metric below that are typically used to measure the ADX. What we are seeing here is a very strong trend which correlates to the recent price spike. What I like about ADX however is to me it shows “true strength”. On not so legitimate large price spikes on stocks you will typically still see a weak trend. This however is not the case with GNIN, with GNIN with a a true and strong trend being built. We also see the DI+ well above the DI- which is showing this trend is staying very well in-tact and probably will for sometime to come. This is telling me we could continue to see GNIN run higher into this week.
↑ GNIN ADX READING : 71.92 ↑
OBV (On Balance Volume):
Analysis: The OBV indicator is an important one for me on swings and longer term plays for one reason: These kind of plays need sustainable volume to continue for long periods of time. The OBV shows us whether or not a stock is getting the necessary volume to keep increasing in price/maintain that trend. With GNIN, we are seeing that continued climb in the OBV which correlates perfectly to the large increase in volume. This is showing everyone that GNIN is not lacking in the volume necessary to continue this move upwards.
CMF (Chaikin Money Flow):
Analysis: The CMF, much like the OBV, not only reads that influx of necessary money flow to consistently increase share price but it also measures buy/sell pressure. What is really nice about GNIN is even after this large spike upwards, we are maintaining that steady reading of buying pressure well outweighing the sell pressure. If the meter continues to hold steady like it is, I would expect a spike in price soon simply due to sell pressure falling. This is a classic churn/burn scenario but completing the churn/burn all while maintaining the price point. This is arguably one of the strongest signs of a huge runner.
Technical Analysis Summary:
Overall, GNIN has all the qualities and makings of a continued huge runner in the OTC. Very much like past stocks we have featured (SGDH and BYOC), I see many similarities in all three positions’ technicals. Am I calling GNIN a long play? Maybe. For now, I’m just calling it a solid OTC swing that I believe has continued massive potential. Below, we will include a brief look at important DD and facts that support a continued move in GNIN.
A Quick Look at Important DD and Comparables:
Share Structure Comparables:
GNIN 80 million Float (hit a high of .0299 so far):
BYOC 709 million Float (hit a high of .16 so far):
SGDH 52 million Float (hit a high of .29 so far):
Analysis: It is obvious, by looking at comparables, that GNIN has the capability with their SS to make a much larger move. This is supporting the idea that GNIN could easily hit double digit price targets because of that super tiny float that I believe is already very locked up by holders.
Rumored 10 million in revs for merging company Zomongo TV.
Analysis: Let’s quickly look at GNIN’s market cap as of close Thursday (3/29/18). We can see a 2.9 million market cap. With the most recent rumored 10 million in revs from the merging company this shows GNIN is greatly undervalued. GNIN could easily be valued at a .10 cent price range based on the incoming company alone.
Overall Closing Summary and Price Targets
Based off the technicals and comparables presented above, it is obvious the future is very bright for GNIN. Below, I will present my price targets which I’m solely basing off the information everyone already knows (a.k.a. the current chart, merging company, rumored revenue generation, and comparables). This price target does not take into account any possible future information that may be released.
GNIN PRICE TARGET CURRENTLY : 0.05 – 0.10+
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Technical Analysis/Opinions of Alex S; Owner/Founder
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