$ABXX GO TIME on ACH license this weekI am putting myself out there that as time passes its more and more likely that Abaxx is awarded its license to operate as an approved clearing house. I thought it could slip into August and it has but it may yet still not come this week. So we have 5 days here for it to come for this chart to perhaps be a nice call on Stock performance this week.
Note prior candle sizes Abaxx has put up in March and April, also a nice one in June. Price has a history of travelling .40-.50 cents in a day on above average volume. Abaxx being awarded this license this week opens up the door for that share price action I believe. I noted that red candle from a couple weeks ago as its large red volume but doesnt tell the whole story. There was a large buy on the OTC side mid morning and the price moved up, sellers took control in the afternoon but the bulk of the volume for the day was on the buyside.
If Abaxx is indeed awarded its license this week it will be easy to look back and say last Thursday was indeed a shakeout of speculators and or weak hands as they anticipated news and trading it, The sell off was bought quickly. I put it up there now to perhaps be ahead of the game, or be wrong.
For fun I put up that candle with a volume range for trading. I intentionally stopped just over $4 as there is evidence that there will be *some* resistance there from the chart (trendline inputted). Also there is the psychological resistance factor to consider whenever you cross over into a new dollar amount where traders may take profit.
All in all, I believe being awarded the license when it comes will be an absolute shift in trend to the upside for Abaxx. There is also the AGM meeting on August 25th where shareholders will vote to allow leadership to reduce shareholder capital in Abaxx and pay out a dividend in kind in the form of BASE Carbon shares which should also keep eyeballs and buyers on the stock.
We'll have time before the actual Abaxx Exchange launch which should come in late Sept/early October if Company's current TL is maintained. So there will likely be some healthy pullback and consolidation. I am really curious to see if volume starts to ramp up. This is a relatively tight float a strong portion of which is held long. If there is significant buying interest the price could and should move in Sept to test the NEO ATH set in early April. $ABXXF traded on Dec 28th with CDN markets closed for Boxing Day holiday (BD was on weekend) and put up large run that hit an ATH but sold off intra day.
For now lets see what this week brings. I have a Long position in $ABXX. Should you trade this stock please follow your own trading rules and do DD before taking a position.
Hit me up on twitter if you have any thoughts/questions/callouts or want to learn more about Abaxx.
Cheers,
Luke
ABXXF trade ideas
Abaxx Technologies $ABXX /$ABXXF TANotes state my thoughts on the matter. I could see price being supported by the LR mean if a roll over does occur.
There is SPECULATION that Abaxx may be awarded its clearing house license over the coming week. This may provide the catalyst to push Abaxx out of its DTL. I am holding long shares and looking to see some tight price action in the +3SD channel to set up a push up.
Abaxx is a pre-rev company and trades on the NEO exchange in Canada. It trades OTC on the QX by the ticker $ABXXF. You can expect spreads of up to 0.05. I recommend Limit Buys.
As always do your own due diligence before buying a security, especially a pre-rev one. And follow your own trading rules.
Cheers,
Luke
Can This Tokenizing FinTech Maintain Its TrendI'm hoping ABXX can keep the support along the cup and handle trend.
New support was recently found around $3.33. The Simple Moving Averages on the 4 hour and 6 hour charts are both crossing at $3.64.
$3.64 also acts as a resistance point on the hourly chart as shown below.
Huge resistance is coming around $3.70. The next major resistance level is at $4.00.
A close up on the 4-Hour chart shows a gap that must be filled around $3.95.
Zooming out to the Daily chart, we are on candle number '7' out of a '9' candle trend.
Hopefully after this '9' candle-trend to the downside is complete, ABXX shareholders should see bluer skies ahead.
I do not give financial advice, but you can see my earlier, more in-depth analysis of ABXX & ABXXF under my 'Related Ideas'. I do adjust trend-lines and other info as the chart changes.
I really like this FinTech company, it's team, and their mission. This a great play for investors like me who are interested in:
ESG (Enviromental/Social/Governance)
Blockchain technology & Tokenization
Mining, Precious Metals, LNG (Liquified Natural Gas)
I try to follow the smart money. I am long ABXXF.
A Trend to the Upside for this FinTech?This is building from my original idea published for ABXXF, listed here in the US on the OTC; However, you can't really glean too much from it's chart. You can see the original ideas linked under 'Related Ideas".
I'm expecting the cup and handle formation to continue with it reaching resistance around CAD$4.40-$4.45 (US$4.20).
> The 4-Hour Charts for ABXX & ABXXF, both, currently on a green '2' candle. I'm expecting a full 9 candle trend to the upside to continue.
A green number '2' candle sitting on top of a green number '1' candle is very bullish.
If all goes to plan, the green '1' candles on the daily-charts for both ABXX & ABXXF could give us the same trend I just mentioned above.
Regardless of these technicals, I really like this company and believe in what they are trying to achieve.
The Company:
Abaxx is a blockchain and ESG company focused on commodities like LNG (Liquified Natural Gas ) and Gold! Abaxx Tech came to the market through a RTO (Reverse Take-Over) of New Millennium Iron (NML & NWLNF). The serially successful mining and media billionaire mogul, Robert Friedland, was one of Abaxx's first angel investors. Abaxx Technologies has multiple subsidiaries. One of the subsidiaries is the Abaxx Exchange where Abaxx Tech receives a royalty for the commodities listed on the exchange.
See more info about the company on its websites:
Abaxx.Tech & Abaxx.Exchange
**Keep in mind I'm an amateur investor nothing I say should be seen as financial advise. I am a small shareholder in this company because I believe in their mission and what they are trying to achieve. I've been a shareholder since the company was called New Millennium Iron when I learned that Robert Friedland was an angel investor in a young entrepreneur and ex-Goldman Sachs exec named Josh Crumb, founder of GoldMoney.
I listen to 'Smarter Markerts', an Abaxx-sponsored podcast to learn more about the titans behind the Abaxx in the world of Mining, Blockchain, Finance and ESG.
At least listen to the first episode where Robert Friedland lays out his vision behind a greener future. He discusses the importance of ESG, blockchain, batteries, copper, and more. You'll understand more as to why I'm so interested in what Abaxx is doing. I am long ABXX.
Slow Moving Abaxx Tech Is About To ShineThe Company:
Abaxx is a blockchain and ESG company focused on commodities like LNG (Liquified Natural Gas) and Gold! Abaxx Tech came to the market through a RTO (Reverse Take-Over) of New Millennium Iron (NML & NWLNF). The serially successful mining and media billionaire mogul, Robert Friedland, was one of Abaxx's first angel investors. Abaxx Technologies has multiple subsidiaries. One of the subsidiaries is the Abaxx Exchange where Abaxx Tech receives a royalty for the commodities listed on the exchange. Brilliant company with proven leadership. See more info about the company at:
Abaxx.Tech & Abaxx.Exchange
The Trade:
Since the inception of Abaxx has moved rather slowly. It looks to be building on what looks to be a cup and handle pattern on the Daily, Weekly, and Monthly charts - All look super bullish!!
The daily chart shows that a small cup has formed since ABXXF started trading on Dec 18, 2020. As of today, Mar 29, 2021, we seem to forming the handle with a few days left for this month of March. The price may fall between $2.96 and $2.88 before rebounding to complete the handle formation.
If we include the price action of New Millennium Iron before the RTO, the weekly and monthly charts for ABXXF show a much larger cup and handle formation. The resistance level and breakout point will be @ $4.18.
Blue skies ahead for the green company. See the link for related idea below.
Abaxx is currently listed on the Neo Exchange in Canada and on the OTC in the US under: ABXX & ABXXF
This is not investment advice. I am long on ABXXF and have been a shareholder since it's inception through the RTO.