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Ebang International Holdings Inc.

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EBON trade ideas

EBON crypto mining machinesWith all this crypto hype, mara and riot rallying to new highs, and BTC continuing its bullish rally, what can we look at that is still cheap and related to these big names like Mara and Riot? ..... Well thats where we have $EBON, a chip design company and a manufacturer of high performance bitcoin mining machines. Now with BTC rallying to new highs this a blockchain stock to 100% add to your WL! Now from a TA standpoint $EBON is currently retesting a multi month downtrend and is looking primed to breakout and start its reversal back to ATH! Keep an eye on volume if we break that downtrend resistance and that will give us a confirmed sign of reversal. Now we have er approaching soon so any long term option contracts I will hold off till then and play the crypto hype short term w/ the ER run up. Key Levels: Support: 5.75, 5.21, 4.69 Resistance: 7.20, 7.92, 8.66,10.90 Ways to Play This: 1.Load shares and possibly sell covered calls 2. Enter on the breakout of the downtrend resistance line with month out option contracts 3. If we see a pull back enter on a dip (5.30-6.17) load zone (options or shares) Option Ideas: extremely high IV on these tread carefully here Leap strikes are being added so possible 1/2022 Calls on this 7.5C 7/16 2.90 (Medium Risk: High Reward) 7.5C 3/19 1.88 (High Risk: High Reward) 10C 2/19 .30 (LOTTO)
NASDAQ:EBONLong
by jUiCE_Trades
5
EBON to $10?! Cryptocurrency Mining and Exchange Trade 🚀EBON is a crypto/telecommunication play. They are best known for their ASIC chip design and manufacture and selling of Bitcoin mining machines. They are receiving extra attention this past few weeks due to them completing chip designing for simultaneous Litecoin ( KRAKEN:LTCUSD ) and Dogecoin ( BITTREX:DOGEUSD ) mining. ”In the future, we will focus on developing more mainstream cryptocurrency mining machines, and we are considering designing more mining chips compatible with multiple cryptocurrencies. We believe it will help increase our revenue from the cryptocurrency mining business and optimize our product offering structure along the blockchain industry value chain.". Right now the crypto market is rallying extremely hard and I think EBON’s status in this market will only increase as crypto receives more and more investments from strong financial powers. EBON is also launching its own cryptocurrency exchange in the first quarter of 2021. They have completed the internal testing of the exchange already. EBON seems to be establishing an international foothold/platform from which to grow. EBON has a subsidiary in Singapore(8/13/20), Australia (10/22/20) and Canada to improve its industrial layout and upgrade its digital asses financial service platform (9/28/20). **Many of these subsidiaries still will have to receive the regulatory approvals and licenses and does not mean EBON will be able to execute their proposed business as planned** Offerings: EBON has offered shares, warrants, and units multiple times this year to raise capital and the stock price has taken a hit each time. Most recently the unit offering resulted in a quick sell off but EBON rallied hard the next day. It seems that this most recent offering included institutional investors to the tune of 14mln units which is very interesting. Chart: Looking at the chart you can notice a 20% sell off from 2/9-2/11 as EBON announced a public offering of up to 16 mln units at $5 per unit. EBON plans to increase to a maximum of 19.2 man units. EBON entered into purchase agreements with institutional investors that agreed to purchase ~14 mln units at initial closing. What I like about this news is the next day we had a 17% rally to test the daily 100 SMA where we were rejected. I think the crypto market being as strong as it is right now is bringing added attention to EBON and we could be on the brink of breaking out of the huge Daily Triangle pattern. $7 is a big resistance lvl that I will be watching closely this week. If we can break and close above on the Daily chart I think we can trigger a bigger rally back to $10. I do think that if this break it will be in the pre-market action this tuesday morning 2/16) Plan: Add shares on $7 breakout if volume confirms. This would get the price over SMA resistances and out of the Value area on the Daily chart. Target: short-term would be 7.70-8.30 range for some profit taking and then riding shares to $10 lvl. Stop: If entering $7 break I would have a stop at $6.75-6.8 lvls. Alternative Plan: if $7 fails I think EBON will test $5.8-$6 HVN seen on the daily and 12h chart. I think this is a good spot to pickup shares for a longer hold play. *With EBON having the crypto mining advancements and crypto exchange news I think it has a strong possibility of rallying back to the highs if the market allows. I do not currently have any positions in this sector and think this is a great add to the portfolio. SPY had a strong Friday close after looking weak wed/thurs so I will keep an eye on it and I will not be entering big if the market is in a questionable state.
NASDAQ:EBONLong
by DOpeTrades
5
2nd chance for those who missed the first onePotential gain:+50% Reward/Risk:3.5 Timeframe: 4-6 wks I always try to present the charts in a simple comprehensive format to prevent any confusion. This is just my technical view, neither a fundamental comment,nor a recommendation to trade..! Please review my track record and calculate the odds for yourself..! Don't forget to like, comment, and Follow to encourage me to continue this. You can send TradingView coins to support me publishing high quality ideas..! Stay tuned great live stream and quality content videos coming soon..! I would appreciate if you share my analysis on your own social media with your friends and beloved ones.
NASDAQ:EBONLong
by Moshkelgosha
8