Short Term Trading Weekend Lounge : 13 -15 Jan, page-188

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Timmmmmbo

1,753 Posts.

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15/01/17

19:02

Post #: 21907607
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Originally posted by ajm65 ↑

I see @Sector already replied while I was preparing this but I’ll have a crack at a long answer because I think Bluechiip deserves a place in the meditech/biotech equipment supplier list.

Things look promising for the company from a FA perspective:

2017 is shaping up as a transformative year with the product transitioning from the development phase to commercialisation.

There is a pipeline of customer leads with potential to be crystallised into sales.

Primary target market is the $2b biopreservation and cryopreservation markets, which process more than 300 million samples per year of tissue (and represents ongoing repeat sales).

Other application areas in cold chain logistics, food, manufacturing, security and defence.

Supply agreements executed with fertility treatment specialists Genea Biomedx in the high-value IVF market, with global distribution through major global pharmaceutical company.

High sales growth expected on release of IVF product in early 2017.

Directors have increased their skin in the game by taking up 1 for 3 rights, shortfall or shares in lieu of cash incentives.

From a TA perspective, it’s probably clearer to look at the weekly chart:

The long term decline in SP is consistent with ongoing losses incurred while developing the product, protecting their IP (24 patents to “own this space”) and developing sales leads. This situation is changing per the FA above.

The chart now shows a bowl pattern (rounded bottom) with SP starting to recover after basing around 2.2c, which was also the level of the last placement in Sept 2016.

(It’s not a C&H pattern. To qualify as a C&H pattern the cup has to be preceded by an uptrend. The cup represents a pause/consolidation before the trend continues up. But in this case the chart shows a downtrend before the bowl starts. So best to describe this pattern as a bowl or rounded bottom.)

However, since reaching a high of 4.2c at right hand edge of bowl the SP has recently slipped back as low as 2.9c.

The 2.9c low coincides with 62% fib retrace of the rise from 2.2c placement price to the recent high of 4.2c high.

This looks like a buying opportunity if the SP moves confidently back up to break past 4.2c. I see minor resistance at 5c and no major resistance until about 7.3c.

View attachment 412664

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Wow - thanks for the in depth response.

You may as well turn that into a tip after all that work.
Last edited by Timmmmmbo: 15/01/17
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0 Great analysis

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Short Term Trading Weekend Lounge : 13 -15 Jan, page-188

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