Yesterday afternoon BONU had strong power hour session, battling back from Wednesday lows and finishing even on the day at 0.0009 . I’ve seen this pop for solid intra-day gains in the past, however some interesting buzz in the chat-rooms today suggests that the real story may be in the closing chart:
Normally I would break down a chart in its 6 week time-fram but I’ve got to show this to you on a larger scale. It looks like BONU has settled back at a support level it saw late in January and in a similar manner, has hit an RSI between 25 and 35 (currently at 28.32). In my opinion, this suggests that BONU is trending in “Oversold Territory” at an historic support.If you take a look back at this same level in Januaray, you’ll also notice how BONU exploded following a string of days that closed between .0008-.0009. The run-up to follow was massive and BioNeutral broke out more than 500PCT! Based on how the chart is setting up, could this be the case once again after a proven breakout from similar levels back in January? In my opinion, the underlying momentum is strong for upward momentum potential heading into Thursday morningLooking for more Buzz on this company?
If you haven’t checked out BONU’s latest CEO Q & A, go to the Seeking Alpha Contributor’s page HERE
to read it. In the interview Mark Lowenthal stated that the company is currently in the process of negotiating a supply agreement and a private label transaction with two major market distributors for coverage both here at home and abroad. In addition, we are also in discussions with a major distributor for a key market segment, and we are close to an agreement to begin consumer testing our Ogiene products overseas. In addition to this, BONU aims to have the Company generate sales in the $150M range over the next five years. So of course my eyes now are glued to the news wires to find out more on these “Two major Market distributors”!There’s been a lot of buzz circling the article and I’ve noticed that many members of the investment community have taken a strong, positive stance behind the company’s Ygiene and Ogiene products. I think this is such an exciting time for the company as a whole and I’m anxious to see what the future has in store.There’s something to be said about repeat winners (as we’ve come to see with many of this year’s breakout plays) and BONU has been a solid “go to” bounce feature time and time again. Pull up info on BioNeutral Group Inc. this morning, check out the Q & A, and let’s get ready for a great day on Thursday!
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