Long
Monaco $MCO Rebranding Leads toe Bull Run
MCO is on a major run leading up to the announcement that they're rebranding to Crypto.Com which is brilliant. Some questionable purchases leading to an announcement that just came out 16 hours ago but *shrug*. That being said, I like the rebrand. Their app is reportedly amazing and lets you purchase various cryptos from it. Their Visa Card Rollout continues on target. They've been large sponsors of Consensus and the Asia Currency Expo. In addition, they've released their white paper 2.0Its an impressive product and they're treating themselves as though they're the Visa of crypto cards. When all the cards (PayX, MTL, MCO and others) settle and one wins, my money remains on $MCO.
From a charting standpoint, potential bearish divergence printing. I'm not concerned as I think we're riding the rebrand in a rare "Don't sell the news" situation. Will be keeping an eye on that channel to catch the cool-off and exit before a major retrace.
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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.