Jim Bloom of Insider5 Jan 2018 15:44
By Jim Bloom of Insider
Posted on January 4, 2018
Black Cactus Global Inc. (OTC:BLGI) has been on an impressive run over the past one month. Back in November, the stock was trading at the $0.09 handle. Ever since it has skyrocketed to $0.55 a share as it makes a push for the $1 a share mark.
The massive rise in share price builds on a string of positive news that seems to have strengthened investor confidence in the company�s long-term prospects. Black Cactus Global has made it clear its intention to become a prominent leader in the blockchain technology sector. It has also made bold investments as it looks to expand its footprint into the payment services business.
BLACK CACTUS PRICE ANALYSIS
The stock is currently trading in an uptrend after bouncing back from lows of $0. 09 as of November. Taking into consideration the bullish momentum, the stock faces immediate resistance at the $0.65 handle, above which it could make a push for the $0.84 handle, which happens to be its 52-week high.
On the downside, immediate support is seen at the $0.40 handle, below which Black Cactus Global could drop to the $0.30 handle. However, all indication is that the current momentum could push the stock higher given the ongoings in the company.
Before we look at the catalysts likely to push the stock higher from the current trading levels, let us look at what the company does to generate shareholder value.
BLACK CACTUS BUSINESS OVERVIEW
Formerly Envoy Group, Black Cactus Group is a digital currency and blockchain technology company. Through BitRun division, the company targets high positive cash flow method for mining digital currencies.
The company also develops blockchain applications for the financial technology, digital media real estate, financial services and healthcare industries.
Black Cactus Global also provides services that include trading exchange and anti-money laundering services.
Given the hype around the blockchain technology and what it could power in future, it does not come as a surprise that investors are taking note of Black Cactus Global prospects.
RECENT DEVELOPMENTS
Black Cactus Global has been on the news in past months on the signing of a licensing agreement that paves the way for it to gain access to a powerful, yet unique market-ready blockchain solutions. The solutions are to be used on a variety of businesses as well as government applications.
The digital currency and blockchain technology company is focused on developing and marketing new applications that offer enhanced services for a wide array of industries. By targeting finance and real estate industries, the company should be able to diversify its revenue streams which should lead to more shareholder value.
The launch of �Digital to Real Financial Trading Platform� and name change to Black Cactus Global marks the first step in the company�s bid to pursue shareholder value around blockchain technol