We see some blockchain announcements over horizon with this stock. Highly manipulated with a low float.
Look at that chart!!!
‘424B1’ on 4/16/19
"We plan to use the blockchain technology to provide authentication capabilities for luxury goods, using cryptographic NFC chips and a decentralized marketplace".
Samuel Lim 559,298 20.5%
Chua Kee Lock 535,406...
Once known for McAfee entering as a director to help its securities division, then became crytominer, now embattled company in fraud cases. However at these levels could prove a quick flip especially hitting lower weekly Bollinger as well as getting close the the weekly 100 LR.
Short interest picked up a good amount in the last month or two. Could provide some...
Bullish Benji here. Bringing you more Bullish action. MGTI is poised for a Yugeeeee Upswing! As you can see by the obvious Hunchback of Notre Dame pattern its reached the Hunch on the right shoulder! This means its very close to a swing up. Will see how it plays out over Easter weekend.
Always bringing the heat, slanging this Bullish knowledge on my fans!
$MGTI offers an interesting upside potential here, with small risk. From a fundamental standpoint, maybe the departure of John McAfee from the firm recruits investors, as $BTC prices rise again.
I think we could see this surging by 6 to 24x, wouldn't shock me. As such, I would look into investing a maximum of 10% in this stock, or 5% if more risk averse.
No analysis whatsoever needed. It has the name blockchain and hasn't taken off yet. Plus, all the restricted shares have a mandatory hold period until April. Float is only 19 million. .........................................................
................on a side note, it is also a data and cyber security company
MGTI achieved a share price of $8 this morning on heavy volume. $8 is the 161.8% mark of the previous high set in 2016.
Driving factors for price decline:
Extremely overbought levels.
BTC price currently under attach by BCH and in decline
Already in progress.
Expect to see a 5 impulse wave correction. Buy level $4.10 to $3.83.
Predicted price in January 2018...
If you are one of the many who are looking at the stock price for the largest US Bitcoin mining company and are afraid that after todays 20% move that you missed out. Think again. MGTI is in a weekly cup and handle pattern meaning that a strong bullish move is just beginning. A price target into the mid 4s and higher is not unlikely.
Finally! I like the current slow by steady growth MGTI is seeing this week. Much better than the insane 6x volume days on no news that we saw Blackfriday.
MGTI announced yesterday an additional 500 mining rigs for Q1 2018 bringing to total up to 5200 by end of Q1 2018.
Monthly revenue estimated to be $4M-5M per month at $14K BTC - holy smokes, this sucker could...
MGTI has formed a massive cup and handle formation over the past year.
Target price of $5-6 before EOY with a price of $12-15 in 2018, possibly spiking as high as $20+ next year.
Wave 5 completion taking place now?
MGTI is the largest miner in North America and shaping up to be one of the world's largest. Buying MGTI is a great way to invest in Bitcoin because...