I wrote yesterday that I appreciate the many coins people have requested for me to review. I'm putting together a Team that I want to win championships with. I get sent many potential players to the field to see if there is any potential. Yes just like coaches that assess players we assess coins. Well of all the coins I have looked at, Metal metal quickly made the initial cut. So it moves to tryouts. First is fundamentals.
Fundamental research -
Great website, loads up fast nice and clean. Very professionally done, yet basic enough that it didn't overwhelm me with a bunch of technical crap I have no clue about. The team was also very professional in their photographs. I know this sounds silly but presentation is everything in business. Smart guy, dress poorly, no job. They also had a few investors which was a very positive sign as well. I'm not familiar with these venture funds, and though they are not the big boys, they seemed legitimate. Especially Gateway Ventures. One critical addition really put the nail in the coffin, the addition of Sid Parihar, formerly the lead UX designer from apple. Nobody is leaving any job, let alone apple, unless you believe you will simply make more money in the long run elsewhere!
Makes the 1st cut.
Second cut is how does it perform vs OMG. OMG is my superstar on which all others shall be judged. If you want to make MY team you need to be able to prove you can add something to it. Comparing a walk on, to the star player on any team seems unfair, but this is the first thing coaches do. They do not need to beat them, you just need to show you are worthy to be on the field, and have POTENTIAL. Now I made several other comparisons as well but to keep it short I will just provide the highlights so I encourage you to do some further research prior to investing.
Charts -
Mtl has traded in a very solid upward trend and LR channel since listing. Let me see how it does vs OMG. Not to shabby actually better than I thought. At first it looks like OMG just blows it away, but I zoomed into see if I could find any points of interest and I did. Like athletes some mature faster than others, and MTL looks like it is just maturing slower. If you look at the lower chart, the first channel of OMG is very similar to the overall trend of metal, and also to the trend leading up to the box. I also like how MTL did not break the longer term trend channel as many others including OMG did during the recent pullback.
Looking at the chart I drew some channels starting looking at trends, and patterns. I noticed that the previous support line has become resistance which sometimes can be viewed as Bearish, but not always. After the consolidation we entered a linear upwards ABCDE pattern in a channel with a greater slope. Similar to what happen below to OMG before it really took off. ("A" below) I also like the current sequence, higher highs, and higher lows. Very bullish. The RSI is probably not very important at this point, but unlike many, it has never triggered a bearish trend change. All in all the chart looks very promising, and I thank the blogger that spotted a potential superstar to compliment our team.
Metal has made the team, here is your Jersey baby!!!
Notice at this point, I'm not looking at a playbook yet, I just want this guy on my team. I have been at this long enough to know, it is never the wrong time to add a good player to your team. I will be adding a 1/2 position here to give me the opportunity, in the even it dips, but I will not be hesitant to add the other if it breaks out as well. Once on the team, we can come up with a playbook of how to trade around the position. I appreciate you guys sending me the tips, and I do read them. It was the reason I wrote last night on why you need to pick winners instead of picking long shots. Metal appears to be winning, and regardless of price, I want winners on my team for the long haul!
Fundamental research -
Great website, loads up fast nice and clean. Very professionally done, yet basic enough that it didn't overwhelm me with a bunch of technical crap I have no clue about. The team was also very professional in their photographs. I know this sounds silly but presentation is everything in business. Smart guy, dress poorly, no job. They also had a few investors which was a very positive sign as well. I'm not familiar with these venture funds, and though they are not the big boys, they seemed legitimate. Especially Gateway Ventures. One critical addition really put the nail in the coffin, the addition of Sid Parihar, formerly the lead UX designer from apple. Nobody is leaving any job, let alone apple, unless you believe you will simply make more money in the long run elsewhere!
Makes the 1st cut.
Second cut is how does it perform vs OMG. OMG is my superstar on which all others shall be judged. If you want to make MY team you need to be able to prove you can add something to it. Comparing a walk on, to the star player on any team seems unfair, but this is the first thing coaches do. They do not need to beat them, you just need to show you are worthy to be on the field, and have POTENTIAL. Now I made several other comparisons as well but to keep it short I will just provide the highlights so I encourage you to do some further research prior to investing.
Charts -
Mtl has traded in a very solid upward trend and LR channel since listing. Let me see how it does vs OMG. Not to shabby actually better than I thought. At first it looks like OMG just blows it away, but I zoomed into see if I could find any points of interest and I did. Like athletes some mature faster than others, and MTL looks like it is just maturing slower. If you look at the lower chart, the first channel of OMG is very similar to the overall trend of metal, and also to the trend leading up to the box. I also like how MTL did not break the longer term trend channel as many others including OMG did during the recent pullback.
Looking at the chart I drew some channels starting looking at trends, and patterns. I noticed that the previous support line has become resistance which sometimes can be viewed as Bearish, but not always. After the consolidation we entered a linear upwards ABCDE pattern in a channel with a greater slope. Similar to what happen below to OMG before it really took off. ("A" below) I also like the current sequence, higher highs, and higher lows. Very bullish. The RSI is probably not very important at this point, but unlike many, it has never triggered a bearish trend change. All in all the chart looks very promising, and I thank the blogger that spotted a potential superstar to compliment our team.
Metal has made the team, here is your Jersey baby!!!
Notice at this point, I'm not looking at a playbook yet, I just want this guy on my team. I have been at this long enough to know, it is never the wrong time to add a good player to your team. I will be adding a 1/2 position here to give me the opportunity, in the even it dips, but I will not be hesitant to add the other if it breaks out as well. Once on the team, we can come up with a playbook of how to trade around the position. I appreciate you guys sending me the tips, and I do read them. It was the reason I wrote last night on why you need to pick winners instead of picking long shots. Metal appears to be winning, and regardless of price, I want winners on my team for the long haul!
Comment:
I want to thank @DavithElMarco as he was the one that brought metal to my attention.