Branded Legacy Inc (BLEG)

[Fallingknife75]

As a follow up to my post on VATE’s fundamentals, linked below, a review of the current chart setup is in order.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=149045486

For those who don’t believe in using charts or say “charts don’t work on OTC stocks” etc. fine, don’t use them, it’s your money. Personally, I choose to use all the tools at my disposal to maximize my returns and charts are one of my tools.

Using a two-year Weekly chart, we can see the RSI is still low at 60 and the 20/50wma Death cross from October is still in place. A support range of .026 - .03 is apparent and a slowly descending resistance line is easily drawn just using the .094 peak from March 2018 and the .073 peak from Dec 2018. The MACD has been kind of a mess but a Bullish Signal Line crossover is becoming apparent. The increasing volume over the past few weeks validates the strength of the recent move.

http://schrts.co/zPvcHGZQ

Zooming in to a one-year chart the indicators/overlays mentioned above still apply, however, we can now see the higher highs and higher lows established over the past three weeks. There has been no consolidation on the weekly chart yet and ideally, I would like to see it re-test the 20wma (.035) as support; my targeted support range is currently .036 - .039 however, with the recent momentum and plenty of room to move on the RSI it’s a tough call on whether or not it will confirm this or find support at a higher level; my bids await if it does come down.

http://schrts.co/pJaWEPKH

Moving to the Daily chart we see the RSI getting up there a bit at 76, the previously mentioned support range .026 - .03 remains apparent as well as the slowly descending resistance line. The 50/200dma Death Cross from August remains and the recent price move has broken both the 50 & 200dma’s. The MACD is too messy to bother reading.

http://schrts.co/jCXcPTER

Looking closer we see a 20/50dma Golden Cross on 21 May along with both MACD Signal Line and Center-Line Crossovers. A support area of .0375 - .04 appears and coincides well with the area indicated by the Weekly charts.

http://schrts.co/jqXcBPjW

VATE’s share price has had significant volatility in the past, the future should be no different. This makes for great trading opportunities, but does make the charts harder read. I would like to see the price break and hold above the .0525 - .055 range prior to calling a Long-Term trend reversal; above .06 would be ideal. As I stated in my Fundamentals post, the company has reached investment grade IMO, now I am just looking for the right accumulation points.

All the best,

Knife