CBYI is back!
Cal-Bay International has a fresh breakout pattern with a New OTC Designation
Good morning members, late last night I told you that I’d have something big this morning. Today I’m happy to be bringing you one of last year’s biggest winners, Cal-Bay International, Inc. (CBYI). This stock broke to highs of nearly 5,000PCT over the course of a month.
In December, Cal-Bay had a Caveat placed on it by OTC Markets which made it nearly impossible to get company information, news articles, or even a chart unless you used a technical site like StockCharts.com. I’m happy to say that as of yesterday afternoon, CBYI was back on OTC Markets with a “Yield” sign and this morning it shows as a full-blown, Pink-Current Information company.
In my opinion, this is HUGE for CBYI. There’s rarely a time where I’ve personally seen a company go from zero information to current status within 3 months let alone at all in many cases. Cal-Bay is that exception to the rule and I’m glad to be bringing this one back to the network.
If you’ve been able to follow some of the action lately, you’ll notice that momentum has begun to pick up and CBYI has, in fact, been trading even with its previous status. Now that Cal-Bay is reporting current information on OTCMarkets as of this morning, I feel that sentiment could be even more positive. Take a look at the chart and I think you’d agree that we may be looking at CBYI at the beginning of a potential bullish reversal trend:
RSI Indicator has come aggressively out of “oversold” territory and is now heading back toward the breakout zone of 60-75. In my opinion, this suggests that CBYI has begun to show signs of a new uptrend.
Cal-Bay’s Chart pattern has become bullish as well, after heading back North following a late month pull-back in March. To me this looks like it could be on the first leg of a breakout pattern.
MACD has begun to head toward the signal line and shows a trend of increased momentum. Typically when MACD (black line) passes up and through the red signal line, this indicates a “bullish cross-over”; a very positive, upward momentum trend. As I’m sure you’ll notice, the current chart pattern suggests that we may be seeing this in its early stages.
Accum/Dist. shows the return of a new “accumulation trend” as this indicator has also shifted directions. In my opinion, it looks like this reversal pattern is the last piece of the puzzle in CBYI’s perfect storm for a potential breakout.
Beyond the technicals of this play is a lot more. Cal-Bay is cleaning house and it looks to me like there’s a new sheriff in town. Yesterday CBYI released a letter to shareholders which stated that not only is the company in “Good Standing” status on OTCMarkets but “All other previous Officers and Directors of the company have already resigned from the [Cal-Bay] in their entirety”
It looks like the newly appointed President of Cal-Bay, Walter Nicholas is cleaning the slate and working to rebuild CBYI into a strong and viable company.
“As part of the Three Million share Preferred “C” control stock purchase by the new management, the company Chairman’s resignation will become effective immediately upon removal of the Caveat Emptor status by OTC Markets.”
-Walter Nicholas, President, Cal-Bay International, Inc.
Additionally, the company stated that it plans to release more information in the form of Press Releases as to its business plans, market sector, technology, subsidiaries along with pending and potential acquisitions and we are seeing it from the beginning.
Members, CBYI was one of the biggest winners of the year in 2013 and with these latest developments, I feel that 2014 may be ready to follow suit. Check out yesterday’s press release, take a look at the technicals, refill your cup of coffee and let’s get ready for the open!