SURG
SURG shares are in a bullish posture after holding key support in a strong base formation that pivoted off the $0.25-0.30 support zone. That level now forms the key launching point. And the stock does appear to be launching – up now over 15% in the past two trading sessions on steadily rising volume.
This base is defined by a stunning bullish RSI divergence that often marks key pivots from bearish to bullish trends. The pattern suggests the base has been holding and trailing sideways for a period after major selling – which defined the prior bear trend – had been exhausted for some time. In other words, this stock could be ripe for some big upside potential now that the bull has been awakened to kick off 2020.
Initial resistance levels sit at $0.42, $0.68, and $1/share, but a recent analyst report sees much more upside, placing a target at the $3.25/share level.
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SURG (Surge Holdings Inc.) is a retail supply chain company that provides a virtual wholesale marketplace hub for retailers, as well as telecom services for low income customers and financial payment services for the unbanked and underbanked.
Surge products are delivered through a nationwide network of convenience stores and corner markets connected to the recently launched SurgePays Network.
This retail platform is designed to transform the traditional supply chain by providing local retailers seamless access to global products and to empower the corner store to select, order and fulfill delivery of wholesale goods from around the country.
This platform also provides manufacturers a cost-effective and efficient platform to access point of sale retailers nationwide.
Key Points:
• SURG is attacking the part of the digital commerce map that no one else has managed to conquer: the underbanked in the developed economies, which represents a massive market world hundreds of billions.
• SURG is already making real money, with trailing revs coming in at $16M, and forward revs set for $68M
• SURG is starting to see major topline growth, with total top-line growth over two years moving toward 4,600%
• SURG acquisition of ECS added $48 million in annualized revenue and 9,800 retail stores
• SURG shares recently received a target at the $3.25 level from Goldman Small Cap Research, representing 983% potential upside for shares according to this analysis.