Knowing that SING is now involved with both cryptocurrency and marijuana industries, having partnered up with BITCF (previously charted and took off.
These companies are starting to make headlines in a strange way. They are in the game of funding the marijuana industry with blockchain technology. Weed coin is available on exchanges now, and the ICO launched for a market cap of $60,000,000.
Because these two topics are so 'hot' right now, the consolidation behind this stock seems poised for some gains. The previous trend was up, the stock is consolidating in a symmetrical triangle pattern, breakout should occur soon.
Yea right, long? Total assets 50k, total debt 400k
Shwayze
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@zabami, long term this stock is dead. Which turns this stock into a penny stock, one essentially used as a pump and dump. However, already knowing this fact about this company, I look into what they are currently doing to get into the media. What have they done in the past year. Essentially aquired Payperless, and just closed a deal with DR. FeelGood as of 9/6 to add to profitability. finance.yahoo.com/news/singlepoint-completes-acquisition-dr-feelgood-110000233.html. Among the sub-companies, Singleseed provides payment solutions to the cannabis industry.
A pump and dump stock, or a dead company, completely switching strategies to compete in two of the most commonly cited high risk/yet high reward industries, successfully acquiring it's 3rd company this year, created the need for me to look into charting a trend pattern analysis.
As you, I am highly skeptical of a long term hold on a company like this also, so let me rephrase my long. Look for a buy in, look for a break in the trendlines, and set a quick sell limit as this will likely continue to pump and dump until (or if) it legitimizes itself as a profitable company.
Shwayze
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A quick look into the history of the stock reveals the cyclical nature of the stock itself.