From a technical standpoint 12 cents makes cents as a next stop. Higher lows, fibonacci extension tool points to approximately 12 cents.
RSI very oversold. I also think in general this project has a lot of potential. A crypto backed Visa card is an excellent business model.
Launched in Singapore, soon to be released in Asia, Europe and then US markets.
I see the 50 MA starting to creep up towards the 200 MA. RSI starting to form a bullish channel.
Waiting for a retrace to 0.25 due to fibonacci & volume support formed there.
Going long from 0.25 bounce.
Overall bull trend not breached, technical analysis points to strong rally for seasonal mining stocks in January-March trading sessions while markets plummet and metals (gold, silver, etc.) rally.
Bullish flag forming, waiting for short-term target breaching 0.17 fibonacci resistance level.
I think we are still in a general uptrend in the RSI, and on the weekly chart for the VIX. Next target ~$40 after consolidating for no more than a week or two. I estimate we hit $40 by February 1st at the latest.
Based on this analysis, I go long on $DRIP to next fibonacci target of ~$33, setting trailing stop there with 5% maximum price offset.
I think in the...
Please see attached similarities between RSI and market movements in early 2013 IPO of Facebook $FB, and early market movements of $DRIP. I see long term weakness in S&P500, till mid 2019 at least. Oil is going lower too.
I can see $30 $DRIP by mid-January, and $68 $DRIP by March to June. But this could go back to IPO too, but that will take much longer, (5-10...