Post by
arh0070 on Apr 05, 2022 7:01pm
BNXA
Ellliot wave theory generally works the best as applied to big pictures ,such as Bitcoin or Ethe or Alt coins .Rarely is it applied to individual stocks .I haven't posted about VOYG in 5 months ,dont own it ,sold it at a small loss .Its not performing well .Currently suffering from government intervention to protect the banks paying pitiful interest rates .Government intervention on Voyg and BlockFi intended to shut down higher interest rates in USDC.
Cryptos and Crypto stocks not performing well again after BTC/Ethe got rejected at the 200 day moving average.
Nothing much more to say other than wait for technicals to improve in the Cryptos .BNXA and Coin stock price will remain in this low trading range until the Cryptos get through this last technical barrier to fully enter the retracement and Alt season .
March TTV for BNXAS should be somewhat better than February but the year on year comparisons will steadily decline .The key number as mentioned before will be the Cash balance in the next quarterly report ,has it declined (likely) and by how much .If its a lot then the company will have to borrow at high interest rates to maintain liquidity since the stock price is so low.
Tough to make a bullish case right now as TTV is declining on a monthly basis ,staff costs/expenses will be higher .The bulls never seem to make a good case other than repeating that BNXA is cheap .