MGTI trade ideas
MGTI - Double before EOY. Moon in 2018MGTI is the largest miner of bitcoin in the U.S. but only a portion of their total rig count is up and running. MGTI will have 4700 mining rigs Q1 2018 with approximately 3500 up and running early January.
Chart indicators:
1) Massive Cup+Handle Formation
2) Triple Bottom
3) Falling wedge / Handle
4) Q3 earnings come out Nov 9 (likely after hours). The earnings will show gains made by the company as they expanded their bitcoin mining operations in Q3 and Q4.
Q3 should give us a "taste" of what to expect in Q4 followed by Q1 2018 which will probably be the mother lode as they'll have all 4700 rigs cranking out coin by then.
They also have the plays on Sentinel and the privacy phone but I don't really care about those. I'm all about the mining.
Look for $5-6 by January and $12-15 summer 2018.
Buy now for less then $2!
MGTI's Correlation with GBTC is Uncanny!Shares of MGTI have strongly corrilated with shares of GBTC and now the shares of MGTI are selling off into earnings while GBTC has rallied. A sharp pop in shares of MGTI is very possible due to the action of GBTC as off late. MGTI has also ramped up their bitcoin mining opperations buying 2000 more Antminer S9 miners. With these new miners alone MGTI will be able to generate 22 Million annually pre tax. I would consider MGTI a STRONG BUY right now.
Full discloser I am a shareholder of MGTI. I am not a shareholder of GBTC.
MGTI'S "Do or die" moment - Nov 9th - Q3 reportThis is an update to my previous charts on MGTI.
After failing to break out of the wedge last week despite BTC running to ATH, the stock price is currently resting on it's $1.77 support line.
We have Q3 earnings coming out November 9th. (Probably after hours).
MGT won't be in the black this report but I am looking for improvement shown in previous quarters to continue and strong forward guidance.
Today's order book has seen more then a few 50k buy orders coming in. That's a good sign.
Long term I remain bullish and expect $5-6 come January and $12-15 next summer with Bitcoin chasing $25K by end of 2018.
MGTI update - +125% GAIN VERY LIKELY! 14MO CUP+HANDLE BREAKOUT10/26 Update! LOOK FOR BREAK OUT CONFIRMATION OF $2.70 FOR PROFIT TARGET OF $4.50
MGTI certainly seems to be on its way, up +18% today. Still at less than half of where we're going!! :)
I'm looking for us to cross $2.56-$2.60 either By Tuesday but this is MGTI - could be sooner or later - this is crypto.. but my gut says within the next 3 trading days.
Once $2.70 is reached and if volume supportive , we have confirmation of a Cup+Handle breakout and first price target becomes $4.50
See my previous charts on MGTI for explanation of the why. But in short.
But in short... take your pick why we're going to the moon. WE'RE GOING TO THE MOON! BUY YOU FOOLS!
The charts don't lie:
3x bullish signals. 14 month Cup & Handle, falling wedge, double bottom.
Sentinel ships Nov 1
Largest bitcoin miner in the US.
Committed to exceed 60 Petahash by Q1 2018
350+ bitcoin mined monthly
Monthly revenue of $2M+ per month / $1.3M
$1.1M EBITDA per month
Privacy phone release Feb 2018 - hack proof, built in crypto wallet. SECURE
MGTI - Update for 10/30/17 - Cup+Handle breakoutMGTI up 27% in the last 2 trading days. Expecting good news next week that will get us the rest of the way towards breaking out of the handle.
No doubt, it's coming. The stars are aligned. Business makes sense, revenue is dramatically increasing and the charts have thrown us three big bullish indicators.
Cup+Handle formation over 14 months
Falling Wedge more recently
Double bottom (happened 10/25)
Very good chance of doubling your money over the next 2 weeks with MGTI.
You can get in now for more gains or you can wait for MGTI to cross $2.63 and hit $2.70 to confirm a break out.
Once the breakout is confirmed, first price target is $4.50.
Longer view term - $6 by January and $12-15 summer 2018.
Remember when Apple was $20?
Remember when MGTI was $2?
Strong buy
Do your own research and DD. Disclaimer - this is my opinion only. I BELIEVE and I am long 50K shares MGTI
MGTI and GBTC divergence from BTC price - but why? On sale??GBTC and MGTI - two of the better bitcoin plays you can buy in an IRA or brokerage account. (I.e. if buying BTC directly isn't an option).
Are both of these bit coin plays currently undervalued and on SALE? MGTI in particular? MGTI has the potential to be over $10 next year and as high as $20-26K with BTC heading to $10K and beyond next year.
GBTC is a BTC backed investment trust backed by bitcoins in cold storage. NAV price is roughly .092xxx BTC per share - with the current premium around 30-35% vs 85-130% during the last BTC run to $5k.
MGTI is a company with three different plays but most notably their bitcoin mining operation. MGTI is currently N. America's largest miner and is setup to take advantage of cheap hydro-electricity. MGTI also has John McAfee on board all though his exact current role is somewhat unclear.
During the August BTC rally to $5k, MGTI rallied hard from $1.30 to $4.26 before crashing hard on 8/30 and eventually fell to lose 61% of it's value from the high of $4.26. GBTC did the same thing but a day later crashing nearly 50% from $1050 into the $500s as BTC retreated down to $3k following Dimon and China double FUD whammy.
You can see GBTC and MGTI have been pretty well correlated to BTC over the past year but something changed around Oct 1. Both of these stocks should be rallying hard core with BTC but they aren't. I thought perhaps investors were waiting for BTC to definitively break above the $5K resistance levels before coming in, given the way they both crashed sharply on the last BTC rally/pull back. Based on current BTC prices MGTI should be $5-6 and GBTC should be $1200-1400 but they're both about half that currently. Why?
One possible reason is what's driving BTC's current surge is the anticipation of "free money" via the two November hard forks scheduled. I.e. bitcoin cash type split.
Long term - both of these are good bets, especially MGTI. This stock has the potential for $5-6 by end of year based on mining and BTC/ETH rapid price appreciation.
MGTI is trippling down on their mining operations, having announced 2000 new miner rigs ordered 10/12.
seekingalpha.com
"Following shipment and setup, and in conjunction with the Company's current rigs in operation and on firm order, MGT's Bitcoin mining operations are expected to generate over $2.0 million in monthly revenue, assuming recent pricing and difficulty rates. Factoring in management fees, profit sharing, electricity, hosting and other direct operating costs, EBITDA from the Company's Bitcoin mining operations is projected at $1.1 million per month. The Company expects all rigs announced to date to be operating during the first quarter of 2018.
Upon full deployment, the total number of mining machines will consist of approximately 4,700 Bitmain Technologies S9 Antimer rigs, generating potential hash power in excess of 60 Ph/s, solidifying MGT's claim of being the largest Bitcoin miner in the U.S. Projected annualized revenue of $25 million and EBITDA of $13 million will far exceed ongoing corporate capital requirements. All mining machines referred to in this press release are fully paid, with the exception of $4.6 million in total debt, all in the form of secured notes convertible into MGT common stock. No further capital is required from MGT or third-party investors in order to receive delivery from firm purchase orders with Bitmain. The Company has also acquired 50 graphics processor-based mining computers to mine Ethereum and Ethereum Classic."
MGTI - Massive cup+handle formation. Breakout eminent. MGTI - Could MGTI be the 2017 equivalent play of buying Apple at $20? I think so.
Take a look at my previous chart for the case behind why MGTI will break out and will trade over $10 in 2018.
The earlier chart focuses on the past few months, this chart looks at May 2016 through November/December 2017 to show the broader trend at play.
You can see there's a massive cup & handle that's formed and we're currently finishing off the handle phase. What typically happens to a stock at this phase? It reverses!
Both the long term and short term (3 month) chart have all of the pieces lining up.
MGTI could decline further down to $1.30 support level by the end of the week due to relentless short pressure all though they seem to be running out of steam.
Next week however its game-on. Q3 earnings the week after that. Its a foregone conclusion that Q3 earnings will show a substantial improvement over Q2 thanks to the addition of 600 mining rigs that were deployed mid-August. MGTI immediately sells bitcoins upon their creation.
Expect to see $5-6 by EOY on MGTI assuming BTC continues its march to $1 million per bitcoin. (Hint: It will).
2018 expect to see $12-15 or higher come summer.
MGTI could very well be a billion dollar company in the coming years. I see great things in store for longs, you just have to get through the crap first.
Price has been hammered by short sellers and profit takers. Fast cash went into MGTI and has been coming out ever since. Fast cash will once again flow into MGTI, especially on positive Sentinel news next week but in my view BTC mining alone is enough to take this company to the moon.
MGTI - Update after 10-25-17 -- Long shake downThis has not been a good week for MGTI. Throughout October MGTI has been getting beaten up by shorts but this week. Today was a doozy with MGTI dropping 13% on double average volume (2m vs 1m avg).
Low of $1.63% bounced off (exactly) 38.2% FIB level from $4.26 High. Next support level is $1.30 if we fail to hold here.
Despite nothing but positive news in October, MGTI has declined 46% from the 10/2 high of $3.05. Why?
Short conspiracy? I'm starting to wonder...
Good news this month
Sentinel commercial release Oct 2.
Mining operations dramatically increased; business agreement nets MGTI all profit with very little cost.
60 Peta hash by Q1 2018 -- translates to mining 350 BTC per month vs 100 BTC currently. Monthly revenue to be north of $2M.
BTC achieves ATH of $61xx and holds support at $5500-5800.
Good news to come - catalyst to reverse this awful trend:
Update on sentinel and hopefully some sales figures
Sentinel begins shipment Nov 1.
Q3 2018 earnings Nov 9 or 15th.
So everything in BTC, news and the chart says we should be at $5-6 right now but we're not. Why?
MGTI being a OTC stock is vulnerable to manipulation. If MGTI going to the moon is obvious to me, you can believe its obvious to those who know more then I do. We saw double volume (mostly short) today on no news and we know we're going to see positive PR next week and fly within the next 2 weeks following Q3 earnings.
This seems to suggest there is an effort to shake the "weak hands" as they say. HODL and you will be rewarded.
MGTI - About to begin wave #5?We're completing the 4th (corrective) waive right now. A perfect storm is on the horizon and MGTI is about to reverse and head to the moon.
Here's why:
1) Notice how we're stick around key Fib levels.
2) Support $1.91 - also the bottom and we'll go up from here.
3) Increased institutional investment; 16% of shares currently.
4) Huge gap between BTC price and MGTI share price that began 10/2/17. GBTC has also diverged all though has done better in the last 2 trading days.
5) Sentinel begins shipment Nov 1. McAfee twitted they've been working hard on sentinel and will update share holders next week.
6) 2017 Q3 earnings comes out Nov 9 or Nov 15th. MGTI deployed 600 mining rigs mid-August. Expect EPS to reflect marked improvement over previous quarters.
7) MGTI will have full deployment of 4700 rigs and another 50 rigs mining Etherium by Q1 2018. That's 60 peta hash. Expect share price to be $5-6 by this time.
8) $12-15 share price summer 2018 based on continued bitcoin price appreciation and expansion of mining rigs and investment partners to MGT.
Lots of good things coming, why is the stock so depressed? In a nutshell, Bears & short sellers are relentless and the proof in earnings isn't released yet. Didn't help when the CEO sold 100K shares at 2.75 on 8-28 and a director sold 100K shares at the top for $3.85 (or 3.95) on 8/30.
But then again, can you blame them?
I am LONG with MGTI. This has already been a top performing stock of 2017 and I think 2018 is going to below everybody out of the water.
MGTI - On the verge of break out higherMark my words, MGTI will see multifold gains in 2018 with $6 in January very likely.
MGTI is the largest U.S. bitcoin miner and they are rapidly expanding their mining operations.
MGTI will have 4700 mining rigs up and running Q1 2018 and generating over 60 Petahash and north of $2 million in monthly revenue - or $1.3MM EBITDA assuming recent prices and mining difficulty.
MGTI was producing about 100 bit coins per month earlier in the year and by Q1 2018 that number will be north of 350 coins per month.
MGTI touched $4.26 on 8/30 as bitcoin made it's first run towards $5000. Based on current BTC the price should be at least $5.
Current price is trading at $2 lower despite bitcoin being $1000 and as high as $1300 higher AND the "YUUGE" increase in mining operations.
Why?
Lots of outdated FUD. Past promises were never delivered, etc. Company funded itself through stock dilution in the past, etc.
Here's the thing though:
I view MGTI as a company that has tried multiple plays over the years and they finally hit gold, bitcoin gold with their mining operations. MGTI is the company that has been "faking it until we make it" but the thing is, by God they're actually making it!!
The blockchain is the future of money and accounting - our entire financial system is going to look dramatically different in 10-15 years. Buying MGTI at this level is like buying AMD when it was $2 a share.
When will MGTI take off?
Timing is always the tricky bit, huh? It could be any day now but I think we'll see a rise to $6 by January. Q2 showed a modest increase in revenue over Q1 but what people seem to forget is they were mining only 100 bit coins in Q2 and in Q1 2018 that number will be 350+ coins.
Unfortunately that means we have to wait 7 months for Q1 2018 earnings but that will be the first quarter with full rig deployment. By then MGTI will be obvious and trading a few fold higher than it is currently.
Based on the wedge coming to a close next week, I think we'll see a gap UP to move closer with BTC's recent price gains.
MGTI & GBTC about to close the gap with BTC? LONGGBTC - a bitcoin investment trust and MGTI a bitcoin mining and crypto security company have moved in a correlation to bitcoin throughout 2017 up until October 2nd where BTC has taken off into full fledged rally mode while leaving GBTC and MGTI behind.
Looking at the edge formed in GBTC and MGTI strongly suggest we'll see a breakout in share price for both as they rapidly move to fill the gap with BTC. Fundamentals suggest the same rally is about to take off, as long as bitcoin can hold above $5500.
But why the divergence over the past 2 weeks? Are we forever stuck at the 61.8 fib line? Heck no!
GBTC has enjoyed something of a monopoly as it's the closest thing we have to a bitcoin ETF at the moment which means GBTC can be bought in an IRA account. During the August BTC rally to $5K GBTC traded as high as $1050 (130% premium) before crashing down 50%. Currently the premium is about 28% but did reach 20% yesterday. The premium seems to be stable around 30% currently but be advised the premium will disappear should a similar bitcoin investment trust or ETF come online in the near future. Any buy below $700 is a good one in my view.
MGTI - is the better play of the two.
MGT Capital Investments is America's largest bitcoin mining company and they are rapidly expanding their mining operations. MGTI expects to generate $2M in revenue or roughly 350 bit coins per month by the end of the year as it's new rigs are delivered and come online. MGTI stock began to really take off after we learned they were mining 100 bit coins per month earlier this year. Based on projected revenue from the rigs coming online this quarter, the share price should be $5 plus but currently trades at a 50% discount.
So why the discount in MGTI?? In a word, FUD.
Noobie and want to be day traders are currently complaining about MGTI's recently announced plan to seek approval from share holders to increase the total number of authorized shares from 75 million to 200 million. Additionally, MGTI also seeks approval to reverse stock split in the rage of 2 for 1 to 7 for 1.
Dilution, right? Well, not quite.
It should be noted that MGTI made almost the exact same announcement in 2016 yet did not increase the number of shares of reverse split the stock. Having the option to is a way to raise capital and fund expansion of the mining operations. The reverse split would be necessary to be listed on NASDAQ.
The other complaint I see is that MGTI will not own the nearly 2000 additional mining rigs recently announced. So what? MGTI is going to manage these rigs and for this they will receive 10% of all bitcoins mined and 50% of the net profits. Investors on the other are paying the upfront cost of these machines. MGTI also gave them 350K restricted shares of stock plus 350 warrants at $2 per share.
This also means there pools of investors. This is INCREDIBLY BULLISH NEWS, HOW DO YOU NOT SEE IT?
Short term MGTI should see $3.85 and a price well over $6 in early 2018 based on their giant LEAP in revenue from their mining operation. I see MGTI reaching $20 to $26 in the summer of 2018.
Disclaimer - I am LONG 50K shares of MGTI and 100 shares GBTC.
$MGTI Nice Profits, Setting up again for a nice re-entryTicker - $MGTI
Date - 10/2
Entry - 2.72 - 2.30
Target - +20%
Exit - 2.18
Note - Sold off for nice profit today :), Looks like its going to let us re-enter at 2.71, Stop 2.68 Or create a core range with low buy action at 2.31, Trend is dead if price drops below 2.29 $MGTI
$MGTI just look at the chart, is moving to $5 OTC breakout This is going to move to $5 , don't be a would of should of
MGTI, NEO, & BTC Heading to the MOON. Here's Why BotTrigger Trade Update: OTC:MGTI our largest stock/common position in the portfolio is behaving strong like bull, with MGTI being up more than 20% today alone. Shown here is a 2 day candle bar chart where we can now see that MGTI has printed a very large "Bullish Engulfing"candle bar here. As each bar represents the data worth of 2 days, you can see that MGTI has reversed the downside pullback of 4 total days in just 2 days (Friday & this Monday). This is not just a bounce, but rather a signal that the uptrend is indeed in tact and very much alive. As we've mentioned before, $MGTI is a hyper proxy vehicle that will track the relative performance of Bitcoin's price fluctuations, largely due to Bitcoin mining being one of MGTI's core value points. However, we believe that eventually that will change and MGTI will enter a new growth phrase that's associated with both Cyber security & an eventual mobile phone player with the advent of the Sentinel phone. Today's big jump is largely due to a few things. Full analysis posted on our site. Link in signature.
Further technical analysis posted in the signature link below why BITTREX:NEOBTC is poised to run much higher from here.
MGTI hitting major supportWe could be hitting major support at $2.20-$2.25. If so, we should see at least a bounce to $2.50-$2.75
MGTI Crossroads - could be bullish on staircase levelsCrossroads for MGTI. It could go either way. Obviously right now it looks like its recovering and that MGTI is taking the purple stairs to follow the parallel blue trend line. However this could be a fake out and we could see the price test 2.75 again as early as tomorrow.
If I had to guess I would say it is forming a new support base and will climb higher, but only time will tell.
Hitting Large ResistnaceBased of the chart, I am looking for MGTI to bounce down off the resistance. To retest the support levels around $2.50 or so.
Keep an eye on the MACD , Starcastics, and RSI to see when/if it starts to turn
MGTI - LongBitcoin mining will be a boon as BTC price increase!
MGTI mining roughly 100 BTC a month now to about 225 BTC a month in July 2017
So at 225 BTC a month lets say $3000 price per BTC = 675,000$ a month... ;)
MGTI is one of the largest U.S. based Bitcoin miners.
MGTI’s bitcoin venture generated $312K in sales for the three months ended March 31, 2017
CEO John McAfee... smart guy to say the least
Speculative trade.
Buy low, sell high!!!
Any takers?
Profit Trading
MGTI WEEKLY REVIEWThe company is betting on mining bitcoin and cyber security... sounds like a smart move to me...
