Shwayze
Panjang

SING watch for breakout of symmetrical triangle. Long

OTC:SING   SINGLEPOINT, INC
Knowing that SING is now involved with both cryptocurrency and marijuana industries, having partnered up with BITCF             (previously charted and took off.

These companies are starting to make headlines in a strange way. They are in the game of funding the marijuana industry with blockchain technology. Weed coin is available on exchanges now, and the ICO             launched for a market cap of $60,000,000.

Because these two topics are so 'hot' right now, the consolidation behind this stock seems poised for some gains. The previous trend was up, the stock is consolidating in a symmetrical triangle pattern , breakout should occur soon.
Yea right, long? Total assets 50k, total debt 400k
Balas
Shwayze zabami
@zabami, long term this stock is dead. Which turns this stock into a penny stock, one essentially used as a pump and dump. However, already knowing this fact about this company, I look into what they are currently doing to get into the media. What have they done in the past year. Essentially aquired Payperless, and just closed a deal with DR. FeelGood as of 9/6 to add to profitability. https://finance.yahoo.com/news/singlepoint-completes-acquisition-dr-feelgood-110000233.html. Among the sub-companies, Singleseed provides payment solutions to the cannabis industry.

A pump and dump stock, or a dead company, completely switching strategies to compete in two of the most commonly cited high risk/yet high reward industries, successfully acquiring it's 3rd company this year, created the need for me to look into charting a trend pattern analysis.

As you, I am highly skeptical of a long term hold on a company like this also, so let me rephrase my long. Look for a buy in, look for a break in the trendlines, and set a quick sell limit as this will likely continue to pump and dump until (or if) it legitimizes itself as a profitable company.
Balas
Shwayze Shwayze
A quick look into the history of the stock reveals the cyclical nature of the stock itself.
Balas
Shwayze zabami
@zabami, how'd your short go?. . LOL.
Balas
zabami Shwayze
@Shwayze, i did not short it, i dont have any business with that kind of crap
Balas
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