BacTech Environmental Corp. (BAC:CSE; BCCEF:OTC; OBT1:FRA) is a company that uses naturally occurring bacteria, harmless to humans and the environment, to liberate precious and base metals from difficult to treat ores, concentrates and tailings, which means that its operations are congruent with the objectives of the powers that be and this no doubt helps to explain why its stock chart has an upward bias.
Bactech was recommended in a Market Notebook article back on 10th January but it has reacted back into support for further and longer than expected. However, as we can see on its latest 16-month below, nothing has broken technically, and what appears to have happened is that a countertrend Pennant has formed that has brought the price back into strong support at the ápex of the large Triangle that it earlier broke out of in December. Various technical factors support an upside breakout from this Pennant soon and a resumption of its larger uptrend. Having fully corrected its earlier overbought condition to even become oversold, momentum (MACD) is now turning higher. On-balance Volume is overall strong and has not dropped back at all on the price reaction back from the start of the year and finally if it advances from here as expected, moving averages will quickly swing into strongly bullish alignment.
The conclusion is that this looks like a very good point to buy, ahead of a new upleg starting. BacTech stock should of course be helped by strengthening gold and silver prices as the dollar’s collapse starts to accelerate.
BacTech Environmental Corp website.
BacTech Environmental Corp., BAC,CSX, BCCEF on OTC, closed at C$0.12, $0.084 on 1st April 22.
Posted on CliveMaund.com at 8.35 am EDT on 4th April 2022.
Clive Maund has been president of www.clivemaund.com, a successful resource sector website, since its inception in 2003. He has 30 years' experience in technical analysis and has worked for banks, commodity brokers and stockbrokers in the City of London. He holds a Diploma in Technical Analysis from the UK Society of Technical Analysts.
Read what other experts are saying about:
|Want to be the first to know about interesting Gold and Base Metals investment ideas? Sign up to receive the FREE Streetwise Reports' newsletter.||Subscribe|
1) Clive Maund: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: None. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: None. CliveMaund.com disclosures below. I determined which companies would be included in this article based on my research and understanding of the sector.
2) The following companies mentioned in the article are sponsors of Streetwise Reports: BacTech Environmental Corp. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with BacTech Environmental Corp. Please click here for more information. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of BacTech Environmental Corp., a company mentioned in this article.
Charts provided by the author.
The above represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.