Biolargo Inc. looks very close to breaking out of tight trading on July 20, 2022 after staying in the same position for a month. Expert Clive Maund reviewed this update and the company’s valuation after this news.
BioLargo Inc. (BLGO:OTCQB) It was the subject of an email alert this morning because it is very close to breaking out of the tightest trading range it has been stuck in over the past month, as we will see in the next six months…
This tight trading range is part of a somewhat larger trading range since mid-May, which is thought to signal the end of the downtrend since last February.
A big reason why this trading range is expected to move higher soon is the strong Accumulation line that has been steadily rising since the beginning of May – even before the price bottomed out and as we can see with the current price close to the upper limit of the downtrend, it won’t take much to break out of this downtrend.
The correction momentum (MACD) which is now approaching the zero line increases the possibility of an imminent reversal.
Resistance levels from past trading are far from dire, but worth noting.
The 10-year chart is very useful as it puts all the recent action in perspective. In this chart, we can see that although the recent downtrend resulted in significant losses in percentage terms, it was a “tempest in a teacup” from the perspective of the bigger picture, a massive base pattern that has been forming since 2019. The minimum that is now nearing completion.
The strongest rally line since the middle of last year is very favorable and the pattern promises to unravel as a new bull market develops in the stock.
It’s sometimes puzzling how it takes so long for a sustained strong accumulation line to translate into positive price action, and when it does, it’s often because of the capital markets that it emerges later, but in any case, this looks really good. Entry point for BioLargo for all time frames.
In conclusion, BioLargo is rated an immediate strong speculative buy for all timeframes. The company is a “green technology” company, which is definitely the right place to enter at this time.
At the time of completing this update, BioLargo is at a cracking point.
BioLargo Inc. website
BioLargo Inc. It traded at $0.265 on July 20, 2022 at 2:00 PM EDT.
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CliveMaund.com Disclosures
The above represents Mr. Mound’s opinion and analysis, based on information available to him at the time of writing. Mr. Maund’s opinions are his own, and do not constitute a recommendation or offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation from groups, individuals or corporations mentioned in his reports. Because trading and investing in any financial markets can involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor licensed by the appropriate regulatory agencies in your jurisdiction and do your own due diligence and research when doing anything. Dealing with financial matters. Although a qualified and experienced stock market analyst, Clive Maund is not a registered securities adviser. Therefore, Mr. Maund’s comments on markets and stocks should only be construed as a solicitation to buy or sell securities with the prior approval of a registered securities advisor operating under the appropriate guidelines in your jurisdiction.
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