BlockQuarry Corp (BLQC)

[Carini]

That being said, this 50/100DMA cross over the 200DMA, on this buying volume, with the OBV climbing like that, and very little selling despite a sky-high RSI is a very bullish sign from a technical perspective. Charts can be useful when there’s not conversion dumping to screw them up.

On that front, except for the COB issuing himself 50MM common shares in March (tripling the O/S), there’s been only about 10MM shares issued since the reverse split in September. If the “no dilution” trend continues, I don’t think this will see much selling at these levels because all the .0001 bag holders from before the R/S are only now breaking even after an 8-month uptrend from the pre-split equivalent of this hitting .00002 (and they all have only 1/255 of the shares they had then anyway). The only “profit” taking will be from recent buyers, and I have a suspicion that a big chunk of that has been a group or two trying to lock up the float (maybe why the COB issued himself a sure-majority portion of common shares?)

The big questions, then, are (1) when will dilution kick in again, and (2) absent dilution, what is that group’s sell target?