BlackStar Enterprise Group Inc (BEGI)

[NorthPeak22]

Bought in at .0024 and sold at .0089 on the way back down after crossing a penny. The chart turned from bullish to bearish and it became apparent to me that it was going to test the 50MA so I got out. Once the stock sliced through the 50MA with no resistance I knew a 200MA test was coming. I considered buying back in after it hit the 200MA but the bounce was not strong and it came back down and continues to parallel the 200MA now. My concern for the stock now is that it only takes one or two large dumps to panic people with $500-$1000 positions who will in turn dump straight into the bid to preserve their capital. When that happens combined with MM's looking to bid whack and bring it down further, it's highly possible that it breaks the 200MA and begins to test the high trips again. At this point, the CEO really needs to get the rubber on the road and show progress towards generating revenue. If he can't do that then his habit of financing the company with toxic funds is most likely going to sink him. There's a lot of potential here if the right things occur, I'm just not convinced that the CEO can actually do all this on his own. Just my honest opinion of what I'm seeing on the chart and within the company. You can't live on hype forever.