Good evening ladies & gentleman. Many who have been involved with the ASX for a few years would know BUD, aswell as the volatility that can come with it.
Seeing as though we hear al the time people buy low in order to sell higher, seeing as though BUD is a FORMER SUPERNOVA that's gone from under 1c to as high as 10c (back in March 2020) thats a healthy 900%+ mover
I made a chart several days ago which put it back on my radar. Have stalked it several days now noticing a thinning of supply and firming of bids. We notice back in 2020 prices were at 0.006c to 0.007c and had no issues making a bag, hitting 0.016
The technical formation alone with the fact that they are making revenues off their sales for the product (disregarding debt) is relatively similar to the current Market Capitalization of the stock just around$25M. I can't see why it cannot get to say $100M Market Cap as they reduce debts, generate more revenue and improve slight managerial disappointments for existing holders and some former oldies who may want to enter again but are waiting on a few variables. Traders also love themselves a good volatile PUMP as this has had several times. History may repeat
All In All I am BULLISH on the Technicals for a swing trade idea for a 10-20% downside risk, followed by a 100% minimum upside potential. Weekly & Monthly Charts can confirm a similar thesis above (short on time to upload them so DYOR
If it can get past the levels I have highlighted on the chart, we may very well see a GAP FILL of the higher levels towards 3.6c but that's the medium term outlook IF A HAPPENS B IS LIKELY type hypothesis. Good luck holders. I see things turning around for trend change reversals. My timing isn't the best, though IMO things are looking rather suspect as someone is taking larger sizes in what appears to be rather accumulative price action behaviour we'll need to wait and see as time will only prove much later what the chart only shows us TODAY
