Replies to post #43943 on Singlepoint Inc (SING)

[mdh]

New support level at 11 cents...

I know I am basing my analysis off only the short term buying and selling since Feb 4 (as Four by Two kindly addressed on Friday), but to me this is the most important market action on this ticker. In my humble opinion, support/resistance levels from 2020 are from a detached era and represent the market action of investors that may have long since gone away.

I was hoping the 15 cent support would hold, and am a little disappointed that it didn't, but also hopeful that this allows for more buying opportunities at more affordable entry points.

The 13.5 cent support didn't hold either, and now we are left with the 11 cent support level, which I think is a pretty big one, representing the level at which a large group of recent investors entered the play. Below this level all you have left are the long term holders from last year, supporting it at 7-10 cents.

So again, I'm expecting the price to bounce around the 11 cent level, looking for direction. If it goes back up, I think we're looking at a 22% gain back to the 13 cent level, and 36% gain back to the 15 cent level. If it fails to hold up at the 11 cent level, we can probably expect it to dip down to sub 10 cents until the next news release comes out.

I'm still looking forward to updates on this deal and earnings coming up over the next three months. I'm still optimistic that April will bring some significant gains to the share price. The past two week's stock action may just be a run-up to what is coming when SinglePoint releases their next update.

I'm still cautiously growing my position, but more defensively now as I'm trying to pinpoint the bottom for the best discounted prices. I can buy 50% more shares at 10 cents than at 15 cents.