NCTY & other crypto stocks to make sure y have in your portfolio

11 de mar. de 2021

We are going to compare some crypto stocks that are leading the charts at the moment and focus mostly on NCTY.
Fundamentals:
So we are looking at one of my favs ! the 9 is a crypto stock that is kicking ass since last Friday's drop and the union bought a massive amount of its dip.
The 9 is now 900% up YTD ! that is massive. The surge of the stock is contributed to the company announcing they will start mining crypto's in Jan 2021 and since has announced the purchase of more mining equipment to mine BTC and FIL among others.
The 9 was also associated with EV plays late last year and its main income was video games, although it is not going so great for them at that sector currently.
They hired Cai Zhifang in February for their crypto subsidiary NBTC, as the new acting CEO.
Cai has been a crypto pioneer since 2013 and co-founded YiBit , one of the first blockchain platforms in china, and get this: in 2015 Cai’s mining rate accounted for over 4% of the global hash rate of BTC worldwide ! with over 300k miners under AvalonMiners.
So what is expected of this stock?
Well personally I would say that just like MARA im playing ping pong with these stocks – I sell them every time they break a new higher high of 5% and buy them at every dip of over 10% - 15% I can get – and thanks to BTC volatility that is going well and giving me a lot of entries and exits 😊
Let's talk technicals :
• From 02 till 12 of Feb stock was going in a nice steady uptrend
• From the 13th till the 19th it moved parabolically and made an 83% move in just 5 trading sessions – ATH of 89.2$ ( this is usually where I start dumping the stock in 20% chunks every time)
• From 23 till 26 the stock has been falling and gave me great cheap entries along the way and bottomed down to 32.9$ (notice the difference from highest high of 89$ - free money !), the level of 32 is now our strongest bottom support and can relay on that area for dip-buying
• From 26 of February till 09 of March stock is channeling 32$ to 51$ - nice channel move to buy and sell steady
• After march 9th it broke 51 and touched 64$ and now trading at that area as its current support
Important points :
1. Below 32 stock is going into the dead zone and we will buy dips only up to that number, below that we will just wait for it to resurface.
2. RSI nose down – correction is due (I think a small one not too big)
3. ADX below 40 – not trending- we must see when it crosses 40 that means the action is coming.
4. The POC (volume point of control) is 42$ - which means stock needs to revisit that area and we will buy more there.
5. Price is sitting exactly on the 50% line from the parabolic motive wave it did in February – the wonders of FIB retracements are amazing – that means we know where the stock needs to be when hype is not high.
Volume analysis :
• 3 months avg volume is 4.8M
• 1M volume avg is 5.2M
• This week its about 1.3M (estimate)
** we want to keep an eye if the volume goes above 3M that can mean the big movement is coming.

What to expect :
I want to see the stock going back to the 42$ area where we can buy more and then converge sideways for a couple of days and then take off above 51$ (green arrow on chart).
If BTC will give us another dive like last week we can expect to get the stock at a massive discount.


Short interest :
11.5% short of float
Increase of 4%
Shares float is 5,900,000
Current shares short 679,700
Nothing special – looks good to me

Insider buys :
Nothing to report – no insider buys found.

Compare to the key players in crypto stocks :
Lets compare MARA , NCTY, STPK, SOS,EBON,BTBT, CAN, RIOT



1. RIOT leading with a 1752% rise
2. MARA 1744%
3. CAN 1380%
4. NCTY 641%
5. BTBT 326%
6. SOS 257%
7. STPK 221%
8. EBON -13%
Crazy percentages all around!

The union will keep buying deeps on these leading stocks and use the best of the BTC era that we are experiencing.

Trade safe! Be safe!