Graph Blockchain GBLC Appears to Have Bottomed Out
Graph Blockchain Inc.is a leading-edge blockchain solutions company providing shareholders exposure to a variety of Decentralized Finance (DeFi) opportunities from Altcoins to Non-Fungible Tokens (NFTs). In 2021, it has acquired New World Inc. (Augmented Reality NFT Sales and Distribution Platform), Beyond the Moon Inc. (Leading Crypto Launchpads), and Babbage Mining Corp. (Altcoin Mining & Storage and Proof of Stake [PoS] Mining).
Here are some reasons I'm excited about this stock:
- This company had a huge bull run in Jan 2021 from only 2 Cents to a whopping 49 Cents - that's a 24.5x return in 8 weeks!
- As you can see on the chart, the 5 Cent level was a resistance level for this stock in 2019 and 2020, and the bull run started as soon as this level was broken. Currently, this stock is making a double bottom pattern at the same level, potentially turning it into a support for the next move up.
- While the double bottom is forming, notice that the MACD and RSI appear to be making higher lows on the weekly timeframe, which in my opinion is a bullish divergence in the making.
- The company is very active, as is evident from the constant positive news coming out from their media relations department. Just search GBLC on Google News, and you can see for yourself.
- In April 2021, the Company announced a $1,000,000 staking capital investment into Polkadot (“DOT Token”) and $500,000 into Cardano (“ADA Token”), and I believe they will announce their earnings from these investments in their upcoming earnings report on September 29, 2021 (date source - TradingView).
- The company made several promising moves in the last year, all of which are summarized in this article announcing their annual report: investingnews.com/news/blockchain-investing/graph-blockchain-reports-2021-year-end/
These all look like good signs to me, so I'm looking forward to seeing this stock rise in the coming weeks. I believe if BTC and Altcoins continue to perform well against the US Dollar, then this stock should also perform well, as it did in January.
Disclosure: The author holds shares of GBLC (Graph Blockchain) stock discussed in this idea.
Disclaimer
No Investment Advice Provided
Any opinions, chats, messages, news, research, analyses, prices, or other information contained in this Post/Idea or in connection with it are provided as general market information for educational and entertainment purposes only, and do not constitute investment advice. This Post/Idea should not be relied upon as a substitute for extensive independent market research before making your actual trading decisions. Opinions, market data, recommendations or any other content is subject to change at any time without notice. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
I do not recommend the use of technical analysis as a sole means of trading decisions. I do not recommend making hurried trading decisions. You should always understand that PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
Here are some reasons I'm excited about this stock:
- This company had a huge bull run in Jan 2021 from only 2 Cents to a whopping 49 Cents - that's a 24.5x return in 8 weeks!
- As you can see on the chart, the 5 Cent level was a resistance level for this stock in 2019 and 2020, and the bull run started as soon as this level was broken. Currently, this stock is making a double bottom pattern at the same level, potentially turning it into a support for the next move up.
- While the double bottom is forming, notice that the MACD and RSI appear to be making higher lows on the weekly timeframe, which in my opinion is a bullish divergence in the making.
- The company is very active, as is evident from the constant positive news coming out from their media relations department. Just search GBLC on Google News, and you can see for yourself.
- In April 2021, the Company announced a $1,000,000 staking capital investment into Polkadot (“DOT Token”) and $500,000 into Cardano (“ADA Token”), and I believe they will announce their earnings from these investments in their upcoming earnings report on September 29, 2021 (date source - TradingView).
- The company made several promising moves in the last year, all of which are summarized in this article announcing their annual report: investingnews.com/news/blockchain-investing/graph-blockchain-reports-2021-year-end/
These all look like good signs to me, so I'm looking forward to seeing this stock rise in the coming weeks. I believe if BTC and Altcoins continue to perform well against the US Dollar, then this stock should also perform well, as it did in January.
Disclosure: The author holds shares of GBLC (Graph Blockchain) stock discussed in this idea.
Disclaimer
No Investment Advice Provided
Any opinions, chats, messages, news, research, analyses, prices, or other information contained in this Post/Idea or in connection with it are provided as general market information for educational and entertainment purposes only, and do not constitute investment advice. This Post/Idea should not be relied upon as a substitute for extensive independent market research before making your actual trading decisions. Opinions, market data, recommendations or any other content is subject to change at any time without notice. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
I do not recommend the use of technical analysis as a sole means of trading decisions. I do not recommend making hurried trading decisions. You should always understand that PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.