DNA Precious Metals (DNAP) Bottom Bounce Report
As more bitcoins are successfully added into circulation, it becomes increasingly harder and more expensive to mine them, for the simple reason reason being the mathematical algorithm automatically levels up in difficulty making it harder for mining applications to solve equations. This spawns the added need for capital to buy computing equipment needed let alone the warehouse space required to house units. For DNA Precious metals, being one of the few public companies that actually mine Bitcoin, this could be an incredible “right place at the right time” situation for the company looking to increase its shareholder value.
On top of the developments with Bitcoin, DNAP’s traditional mining operations may also be a strong proponent for this new venture. The profits for mining leverage the precious metals’ prices, rising much faster than the underlying gains in gold and silver. The larger gold and silver miners could at least double the metals’ gains, the mid-tier ones; quadruple them, while the smaller miners have the potential to see upside leverage even greater than that.
If you’re looking at this from a technical perspective, DNAP may have a strong set up for bottom bounce potential:
RSI has just started to turn up and out of Oversold territory which could suggest that DNAP may be already begun to find positive momentum heading into today
The Obvious pull-back since June has brought DNAP down to the 0.19 level which appears to be a stronger support. After Friday’s close, I think that a test of this support shows that DNAP maintains these lower levels and a bounce back to previous June highs could mean a huge rebound with triple digit potential attatched to it
Therefore in addition to a bottom bouce chart, DNAP has a favorable blend of gold and bitcoin could allow DNA Precious Metals to achieve both a first mover advantage and to be able to maneuver the asset landscape in future. Based on this, it’s my opinion that DNAP could be positioned to achieve high growth opportunity through its multi-faceted revenue model and is worth a much closer look heading into this week.
Pull up DNAP this morning and start your research. If this chart set-up and latest news begins to spark a rally, DNA Precious Metals could kick this week off with a bang!
Thank you for reading and Happy Trading,
Mr. Investor News Source
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