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Bounce Trade: AMZZ
Hello fellow investors / traders,
Those who have followed me for any length of time know that I love the bounce play.
These setups can be some of the most powerful chart patterns to trade - for a couple of reasons.
First, investors often see value when a stock has had a major pullback.
Second, short sellers often look to cover (buy back) their position after a major decline so they can book their gains.
This value buying coupled with short covering can create a massive momentum swing / reversal, giving us an opportunity to profit - and usually very quickly.
Amazonica Corp (AMZZ) has the perfect technical setup for a bounce play.
As you can see in the above chart, AMZZ has fallen hard and fast. It's RSI (relative strength indicator) is 25, which is extremely oversold.
Volume increased significantly yesterday which leads us to believe that the capitulation phase of this sell off has been, the weak hands are out, and we could see a strong move higher from here.
And the story behind AMZZ is quite fascinating too....
Amazonica (AMZZ) is an energy
technology development company that deploys clean, sustainable and innovative energy technologies. Their corse business is the commercialization of
technological breakthroughs by licensing the technology and marketing
production devices directly.
Specifically, AMZZ is developing a breakthrough, low cost technology that will produce 99.999% pure hydrogen.
For those who are not familiar, hydrogen gas is a $100 billion dollar market today, but is difficult, expensive and "dirty" to produce.
Major automotive, alternative energy and oil companies are rushing to find a sustainable method of producing hydrogen that would power everything from car engines to the industrial economy.
AMZZ's patent pending production process, which produces ultra-pure, clean hydrogen is breaking the mould, and could help pioneer the market and increase the company's profitability rapidly.
Today, AMZZ announced a major step forward in that it had upgraded its US patent for its hyrdogen manufacturing process.
The press release states... "Dr. Gennadiy Petrovich Glazunov,
our project manager and Chairman of our scientific advisory board
submitted some important upgrades to our United States patent
application, #61896272 (Ultra-Pure Hydrogen Generating Device), that was
filed October 28, 2013. The Company expects to continually update and
upgrade its patents to keep up with developments and changes and
maintain solid patent protection on our ultra-pure hydrogen technology."
"I
am pleased with our progress to date. Dr. Glazunov and his research
team continue to make great strides in our goal of low cost ultra-pure
hydrogen production," stated Michael Soursos, CEO Amazonica Corp. "This
patent update will give us more solid coverage for our hydrogen
technology."
You can read this
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