My Analysis for Tomorrow (Wed) - BAYP
Throughout the day today it was clear to those who follow this stock that something was happening or going to happen. The volume and buys today were very interesting for what was EXTO. As I has said in my posts throughout the day, something was up. Now we have it: a ticker symbol change effective tomorrow (not to mention no r/s).
The past 5-8 trading days have been gradually getting stronger and stronger. We had been getting to the point where sellers were moving on and shares were being passed into stronger hands with less volume and larger bid sizes each day. Some people who were actually holders here for a while used the last two weeks or so to move on from EXTO. After today, they are asking themselves, "did this really just happen?" Every run needs chasers...
Today showed very good strength on OK volume. This was easily able to move up 43% with out much problem without a PR or anything being put out. Investors are now finding out about the ticker change, seeing the big percentage gain, seeing the slightly higher than normal volume and are learning about BAYP. Many new investors got in today and others have found out about this stock and are doing their due diligence tonight. More are getting ready to move in tomorrow and others are looking to grow their positions. A PR is imminent, not just for the symbol change but for a substantial update on the companies progress. Remember, revenues are supposed to come in this year from the recent annual report.
With that said, here is my analysis for tomorrow. For starters, a gap up would be big, could be huge, but is not necessary. The number that would be great to print early is .0012. There is some resistance there, although really minimal. If a gap up is able to print .0012 right away I believe this baby will be off and on the move up right away. If .0011 is able to print right away on a gap up that is a sign of strength as well, but this may not run immediately at the open as much as a print of .0012 would. If there is no gap up, strong volume will build strength and support for this as chunks are taken down on the ask, until the announcement of a PR that lets this fly. Not gaping up could actually be quite healthy for the run up of this one. Hitting the ask early with some volume is better than a gap up in many situations like this.
The next resistance level (which is more substantial than the one at .0012) will be around .002. If a run is set off tomorrow I will be looking for it to move all the way up to .002. Basically if .0012 is hit early this can easily go to the .002 range quickly.
Again, I expect a PR to be coming which will certainly help this move a good deal. The last part of this analysis is volume. The number to break to really move and show strength/support will be 20 million. If over 20 million shares are traded, this baby is awake. The number to show this baby is really alive and electrified, is anywhere around 35 million plus, then anything is possible and resistance will not be able to slow this down too much for a very long way.
What I would like to see tomorrow is an early hit of .0012. Then with a PR and some volume around 25 million in the day, a run up to .002.
Good luck and thanks for reading. Go BAYP
