BNXA/Stockhouse sentiment indicatorOne of my favorite sentiment indicators is a negative one .The more notes on a bulletin board the more negative the outlook for the stock is .
Right now the indicator is strongly positive with no notes for several days and very few people reading the notes that are written ,many of which have little content with respect to BNXA I thought for fun I would go back to the end of March, close to the top and see what the situation was then ,that was around the time of the PP.
On March 27th there were 14 notes ,Urbani 3,Vancity 4 ,order 66 4 .Almost all these notes were accompanied by multiple thumbs up and were read by up to 300 people.Urbani was predicting a 60$ stock price .
On March 26th there were 19 notes,Urbani 3, Van city 4.
Back then I was the only Nay sayer.
Amazing how the sentiment has changed in 4 months.
BNXA continues in business having raised money at the top of this cycle.Cryptos are down 50-60%with some of the smaller ones(alt coins) down even more .The worst of this correction would appear to be over with some recovery in Cryptos happening .
The July total revenues for BNXA will be interesting to review to see whether the fall in revenue due to the Crypto correction is beginning to stabilize or not .The company needs to publish its cash balance to see if it is cash flow neutral or still burning cash .
Provided that the Crypto recovery continues and it doesn't slip into a bear market this is clearly a better time to think about buying BNXA than the end of March .
If one is a believer in the 4 year cycle for Cryptos (time between bear markets)then a trading opportunity for BNXA might exist over the next 5 months .
Not for widows and orphans and very high risk.