What a great day for the infamous Chinese company SOS.
Today's rally was due to the news that the 2nd batch of the mining rigs are now active, and that additionally, SOS has successfully mined bitcoin. What great news.
Of course HaGeNs BeRmAN, "NATIONAL TRIAL ATTORNEYS, Encourages Investors in SOS Limited (SOS) to Contact its Attorneys, Analyst Calls SOS Stock “Worthless”" (Article Found on Yahoo Finance)
This article was posted just after market close. Aren't bears just annoying.
_______________________________________________________________________________
As you can see on my chart with infinite lines, SOS broke my short term resistance test at around the $7 mark.
We've won the battle but there's still a war to win (Against the Bears). The second (and probably the true test) resistance line I am looking to test is at the $10 range.
SOS doesn't have to follow BTC. SOS is under different conditions opposed to EBANG, MARA, and RIOT. The short ratio for SOS is .19 with 122.38 Million shares outstanding. Please check my math, but that's approx. 600k shares that are being shorted. So don't expect this potential "short squeeze" to be something crazy like GME. 30% of GME's shares are being shorted which is how the price went from $6 to $400. Nonetheless, do buy if you believe SOS is a company that's worthy of being in your portfolio.
_______________________________________________________________________________
After today's news, I expect there to be another positive reaction once SOS announces that the remaining batch of mining rigs are active. So be on the look out for that.
The RSI indicator suggests that the stock is now over bought, therefore expect a minor pull back when the market opens tomorrow. The choice is yours to buy in or watch the ticker while you listen to some Nirvana for inspiration (Like if you're from Seattle like me).
Anyway, that's my commentary for today, and if you read this far and enjoyed my literature please feel free to follow as I will continue to monitor SOS daily. Everybody good luck!
Today's rally was due to the news that the 2nd batch of the mining rigs are now active, and that additionally, SOS has successfully mined bitcoin. What great news.
Of course HaGeNs BeRmAN, "NATIONAL TRIAL ATTORNEYS, Encourages Investors in SOS Limited (SOS) to Contact its Attorneys, Analyst Calls SOS Stock “Worthless”" (Article Found on Yahoo Finance)
This article was posted just after market close. Aren't bears just annoying.
_______________________________________________________________________________
As you can see on my chart with infinite lines, SOS broke my short term resistance test at around the $7 mark.
We've won the battle but there's still a war to win (Against the Bears). The second (and probably the true test) resistance line I am looking to test is at the $10 range.
SOS doesn't have to follow BTC. SOS is under different conditions opposed to EBANG, MARA, and RIOT. The short ratio for SOS is .19 with 122.38 Million shares outstanding. Please check my math, but that's approx. 600k shares that are being shorted. So don't expect this potential "short squeeze" to be something crazy like GME. 30% of GME's shares are being shorted which is how the price went from $6 to $400. Nonetheless, do buy if you believe SOS is a company that's worthy of being in your portfolio.
_______________________________________________________________________________
After today's news, I expect there to be another positive reaction once SOS announces that the remaining batch of mining rigs are active. So be on the look out for that.
The RSI indicator suggests that the stock is now over bought, therefore expect a minor pull back when the market opens tomorrow. The choice is yours to buy in or watch the ticker while you listen to some Nirvana for inspiration (Like if you're from Seattle like me).
Anyway, that's my commentary for today, and if you read this far and enjoyed my literature please feel free to follow as I will continue to monitor SOS daily. Everybody good luck!