I'm expecting the 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 .
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.
Abaxx is a blockchain and ESG company focused on 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 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.
If we close today with this green number '2' candle sitting on top of the green number '1' candle, we can count on the trend to continue in the short-term.
I do not have any sell targets set as this is a long-term hold for me.
The 9-candle trend to the upside broke down, but is finding support around CAD$3.85.
On the hourly chart, you can almost see a smaller cup and handle formation inside the larger handle.
The Hourly Chart:
The 4-Hour Chart:
Patience pays off if you can stomach the volatility my friends.
At the moment, ABXX is creating a double bottom.
Pure speculation: If ABXX falls below the double-bottom, my next support level is around $3.52 or so.
If ABXX falls to those support levels we could see an inverse head and shoulders formation.
It's exciting to see insiders are still buying.
The Hourly Chart:
>We may see a pull-back to $3.75 before retesting resistance.
>ABXX will start meeting a lot of resistance around $3.85.
>Yesterday we maintained support at $3.70, creating a double bottom.
The next few weeks should prove to be super solid for Abaxx. #BULLISH
ABXX needs to finish the 9-13 candlestick trend downward before reversing to the upside, but has found support along the red trend line around $3.33.
The first big resistance point is around $3.70.
The next major resistance is around $4.00.
The last page on Abaxx's investor presentation really peaked my interest. The 'Market Comparable Company Overview' on page 29 leads me to believe Abaxx could be the blockchain version of Docusign. If Abaxx will be in direct competition with those companies listed, the Abaxx share price will be multiples of where it is today.
This is only the beginning for Abaxx. Tremendously exciting company. Long ABXXF.