NIA’s #1 Blockchain/Ethereum stock suggestion BTL Group (TSXV: BTL) hit a new all-time high yesterday of $4.41 per share and finished up 9.5% to $4.40 on strong volume of 277,000 shares! BTL is already up 80.3% since NIA’s initial suggestion on the morning of March 3rd at $2.44 per share – and we believe much larger gains are still to come!
BTL has now gained for six consecutive trading days! For the last three straight days, BTL has closed at or near its high of day!
Out of 170 stocks on the TSX Venture with a market cap of at least $50 million, BTL has been the #1 largest percentage gainer of the past week rising by 38.4%!
Since NIA initially suggested BTL on March 3rd at $2.44 per share, BTL has gained a stunning 80.3% – making it the #3 best performing TSX Venture stock during this time period!
NIA has many reasons to believe that BTL still has much more short-term upside! When BTL reached its last short-term peak of $3.98 per share back on March 6th, it was trading for 29.66% above its 5-day volume weighted average price (VWAP) of $3.07 per share with a 14-day relative strength index (RSI) of 85.45 and had traded volume over the previous two days of 975,000 shares!
BTL’s 5-day VWAP is currently up to a new record high of $3.86 and if BTL reaches a short-term peak of at least 29.66% above its 5-day VWAP, like it has done on six previous occasions during the past year – BTL will need to rise to a minimum of $5 per share within the next week. BTL’s 14-day RSI is currently only 72.37 and at $5 per share its 14-day RSI will still be well below 80. For BTL’s 14-day RSI to once again reach 85.45, it will need to breakout above $6 per share within the next week!
Although BTL’s volume has been steadily rising, it has still only traded a total of 433,000 shares during the last two days – less than half of the volume it was trading at last month’s short-term peak!
BTL just announced last night that they successfully closed on their huge private placement of $3.105 million, after increasing it from an original offering amount of $2.7 million due to overwhelmingly strong demand! The newly issued shares are restricted for four months so we won’t be seeing any new supply of stock entering the market until August! BTL now has the cash it needs to commercialize Interbit by year-end – and we could see big news soon about a major new Blockchain pilot program with some of North America’s largest energy companies!
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. Never make investment decisions based on anything NIA says. This message is meant for informational and educational purposes only and does not provide investment advice.