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Best you can hope for is someone buying the company, otherwise under the current board, bankruptcy is already knocking at the bidstack doors.
Why shareholders didn't remove the current board of mishaps is beyond me.
Watching π§
Watching this stocks performance blow through the technical charts has been beautiful to see.
Resistance has falling to the wayside so far and now being over the 10.20.50 and 200 Moving averages, I would expect more of the same.
Next resistance sits at 3.2/4.2/4.6 then the stock will start recording all time new highs.
The future growth outlook here is clearly mind boggling, which is what I am here for.
Every Blockchain miner and there dogs will almost certainly want a piece of what QBT have to offer and in return 100's of millions will flood through the doors at QBT.
Good luck all it's coming home π―π°
Added here today on the sole purpose that the stocks technical setups, indicate it's price action is turning towards a solid long-term reversal.
Stock has patterns that could move the price action back up to its IPO price.
The company developments will play a key part towards that path forward.
Long-term hold for some very respectable returns. π―π
The neckline or resistance level is the maximum price an asset can achieve over a period in an up-trending market. A double bottom pattern is complete if the price breaks above the neckline, indicating there are more buyers than sellers and that the trend is likely to continue moving higher.
The unsuccessful break across that neckline is also known as a false break.
In most cases that pullback is temporary and the stock will go on to retest that same line.
Tekcapital sits at that important key support, created in 2021.
If the stock does reverse from here on, then investors have multiple technical setups to look forward to, propelling the stock further up towards potentially new highs.
Today's (RNS) Has currently reversed the price action from its bear flag, caused from a false break from crossing a long-term neckline off one of its Technical double bottoms.
The stock is currently at key 2021 Support. It's here where I believe you will see a re-rate reversal take place, with a gradual return to challenge for new highs. π―
I say conclude at 1p'ish as that's where multiple key Resistance is at. So the stock will likely pullback in that area of resistance, before going into consolidation.
After that if the company is still producing the goods, then there is nothing to say that the stock will go on to reach new highs.
The current price action is firmly running by what the Algos have set for the stock
(reversal) The low volume impacts the speed to get to those important milestones, I.E 1p. π―
The long-term double bottom on display, shows the current uptrends neckline to be 0.50.
Therefore if the stock is to cross that important threshold, it would confirm it's reversal.
As with the majority of double bottoms, after crossing a neckline a false break/pullback occurs. This is in most cases a temporary pullback before proceeding it's uptrend, which I believe will conclude at 1p'ish
Onwards and upwards π―
That's what I'm here for Topcatz, the future from multiple revenues will eventually come into fruition.
If this reversal holds, which I fully expect it too, then the climb to pass many milestones has now started.
Looking at the technical patterns from this stocks chart, there is plenty of double bottoms to come into play as the stock moves up.
Yes sure there will be false breaks/pullbacks as she hits resistance, but the theme will likely be a continued double bottom process, which will likely bring an end result of new stock price highs.
This is a long-term hold for myself, so plenty of time to see this come into fruition.
Momentum currently starting to get established from that move off the 2021 key support.
The current Technical Bollinger outlook also looks good.
The stock is currently going into a Bollinger channel, where it will go through a contraction phase before going into a expansion/explosion phase.
Onwards and upwards π―
Stock has been moving through a Bollinger channel for sometime now. The bands were in contraction and recently moved into a potential expansion/explosion phase.
This is shown on the zoomed out daily chart using Bollinger.
If this new expansion phase is to be successful, I would expect a significant move either to the upside/downside in the short-term
So far this current move off key 2021 support levels, is unfolding like a phoneix rising from the ashesβ±οΈ
If the reversal is to hold, I fully expect this to eventually challenge for new highs.
GL π―
Triple bottom currently showing on its Technical chart, after she previously false breaked from crossing it's double bottom neckline.
Now has an excellent chance of retesting and holding above that line, to further it's gains, for what should be a very bullish reversal.
Will be interesting to see if a reversal will be triggered off the key support, created way back during 2021.
Interesting setup if she does, with so many Technical Reversal Patterns to help propell her back Upto where she belongs.
Shorts will be livid if she (BLOWS)
Yesterday's double bottom eventually failed to live up to its normal bullish advance.
The stock looked like it was going for gold before doing an aboutturn south. A little over extended pullback, too be expected in high voltility stocks.
The stock is currently producing another double bottom on the daily chart, for a potential finale day upturn.
False breaks/pullbacks from reaching a neckline are common and normally short lived before proceeding up to retest that previous point.