SOS UPDATE 3/30/21 I sort of panicked this morning...All of my followers know that I have been bullish on SOS ever since February. It's been a battle against the bears and it's not like they don't have any valid points about this company's transparency, but I just hate having to see this stock go down even after good news.
Today's catalyst was SOS is issuing new warrants to raise capital for their Crypto Mining Operations, thus diluting the stock and investor interest.
Anyway, I just hate having to see the price teeter totter because it gives me less TA information to work with. All I can do is draw a new resistance point at $4.50.
There's not much fundamentals to work with either due to the fact that this company has only re-branded itself just recently, and the Crypto Industry as a whole is still highly speculative. But if you're here looking for reassurance, and you are still holding onto SOS like am (I'm down 50%) this is what I have to say:
Fundamentally this Chinese company hasn't proved itself to be a ten bagger, yet. Personally, I believe this company is totally overvalued due to the limited information available, but I also believe this company is undervalued compared to the competition. Additionally, the number of shares outstanding for SOS stock are low in comparison to say RIOT and MARA which too are diluting their shares with warrants.
Best case scenario: SOS gets all of those 15.5K miners active, online, and operational by the end of the month. Then, hashing at an average-rate fast enough to mine 41 BTC (353 Peta-Hashes/s) and 909 ETH (707 Giga-Hashes/s). At the current price levels today, that would be equivalent to about : $4055200 in mining revenue USD.
- ( SOS's Expectations: service.sosyun.com ) by the end of Q1.
But then let's also say the price of BTC and ETH remain around these price levels for the rest of the year (which I doubt). That' would be 20 Million (more or less) in revenue for the year 2021. Because I'm bullish on crypto as a whole, I am fully confident that SOS will outperform expected earnings. Only time will really tell. I can see SOS hitting $20 by the end of the year, but I can also see it going down. And at that point I will continue to hold and buy more unless there is concrete evidence that SOS Limited. is indeed a fraud and it'll just be an expensive lesson for everyone to remember.
I apologize if this wasn't reassuring enough, but as intelligent investors we have to stick with facts and not stimulation. Of course I wished I had waited just an extra month before I had jumped in and bought a large amount of SOS stock, but I do not regret it.
I would love to hear other people's opinions in the comment section.
SOS
SOS UPDATE 3/29/2021We are in a choppy market due to many Macro Global Economic Factors. The Cargo Ship Stuck in the canals causing the global economy Billions. Rising Bond Yields. And the ominous feeling of rising global inflation.
I am still holding LONG. If hyper-inflation becomes very real. My theory is that the any crypto business/fin tech business will survive and expand. Crypto Markets simply because fiat is becoming less valuable, and Bitcoin (Wealth) is becoming a hedge for many investors.
Bearish BTC potential reversal and or continuation XtradesWith lower highs we have a bearish continuation pattern. Daily candles broke the bear trend but we don't have a confirmation candle of the move and we haven't change patterns to a bullish pattern so still playing some shorts mixed with my longs on tickers like RIOT and MARA.
Part 3 of the 1 hour chart and what im seeingWe see we have strong resistance at the $5.20 mark. Good to see we broke through the $6 with ease which is good. That $6.55 is showing strong resistance but if we break through it we should see $7 again.
Im not a professional and open to your thoughts and ideas.
Updated SOS quick analysis Yesterdays chat was exactly how i predicted lucky I took my full 100% profit at $7. I did buy in at $6 but we could be going down lower from this point, not because of the stock itself but the volatile market at the moment. I will be watching pre market closely before making any rash decisions. would like to end this week above $6.80 to give me some indication we are still safe.
I did put a stop sale on my chart but i might not use it only because I am ready with cash to buy dips if required.
I am not a professional just learning as I go and open to your opinion.
SOS 3/22/2021Bit of a slow day in the markets today. + BTC down 5%
The trend still follows and we have yet to hear news on the 3rd set of mining rigs.
Oversold today (-10%) so expect there to be a bit of a rebound tomorrow if everything is perfect. I'm still holding long on this stock. We can't expect crazy things to happen within the next month but we sure as heck seeing an upside but look at this as an opportunity for an options swing trade.
Another SOS Speculation 03/16/2021Good afternoon to everyone on the west coast and good evening to everybody on the east! Wow aren't we looking bullish today. Like I mentioned yesterday, as expected, there was going to be a minor pull back today. I sold my options this morning, and bought back in at a lower price closer to around noon (west coast time).
For today's analysis, I am going to be using the simple moving average (SMA) lines as resistant points.
The Red line indicates the 20 day moving average, yellow 50, and green for 200.
Yesterday the 20 day moving average crossed above the 200 day moving average which is how we saw that push in price and volume.
The second thing I watched out for is what I like to call "confirmation" and that's when the 50 day average also crosses above the 200 day average. And well, as you can see on the my chart here, we are pretty much there. We are looking bullish.
Remember to always practice risk management by setting up losses, or hedging when the market moves against your favor because with many things in life -- anything can happen.
Anyway, if you read this far and enjoyed my analysis, feel free to follow me as I will continue to observe SOS daily.