Anticipating This Week's Breakout In BLNK
by Mike Paulenoff
November 21, 2020 • 12:00 AM EST
Ten days ago (on Nov 11), with Blink Charging Co. (BLNK) trading at 9.62 just ahead of its earnings report, Mike Paulenoff wrote in our his Trading Room:
"Is this [report] the catalyst that sends BLNK surging to and through multi-YEAR resistance at 14.50-15.00? It certainly could be because the huge base formation exhibited on my attached Daily chart shows that for the past 3-1/2 months, it has been digesting the gains from the March low at 1.25 to the July high at 14.58, a digestion period that represents chart symmetry with the Sep 2017 to Feb 2018 period."
Mike added: "A bullish reaction to earnings will have potential to thrust BLNK out of its sideways, bullish Coil-type formation up to and through 14.50-15.00, and if sustained, will trigger much higher targets thereafter."
In the week following its Nov 12 earnings report, BLNK's price action has exploded to the upside to Friday's high of 24.84, a climb of 158% since Mike's Nov 11 alert.
What's more, the stock is up an astounding 780% since Mike wrote about it on July 29, 2019, when it was at 2.80, noting: "It should be viewed as a concept stock holding that has enormous potential, especially as the green and EV space expands in the next 5 years."
What's next for BLNK after its powerful advance?
Join Mike and his MPTrader community for real-time discussion about the stock and other opportunities.
Mike Paulenoff is the author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on
ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international
markets, plus key ETF component stocks in sectors like technology, mining, and banking.
Sign up for a Free 7-day Trial!
More Top Calls From Mike
On November 8, just after TSLA (Tesla Inc) traded down a new multi-month corrective low at 185.75, Mike Paulenoff posted the following analysis to the MPTrader member discussion room:TSLA is getting closer to BOTH my next optimal downside target zone of 170-175 AND a condition of downside exhaustion within the downleg from the 8/16 high at 314.67.Bottom Line: As of this moment, TSLAs plunge today to a new big picture corrective low at 186.
On Wed Nov 9, the day before the next consequential CPI (inflation) report, Mike Paulenoff posted the following bullish analysis of the TLT (20+ Year T-bond ETF) for MPTrader members, writing:If my attached 4 Hour TLT (20+ Year T-bond ETF) Chart Setup is whispering anything to us about the next likely near-term directional price surge, then all of the action since mid-October has carved out an accumulation pattern in the form of a big W that has the potential to trigger a sharp
On September 30, 2022, Mike Paulenoff posted the following currency and precious metals commentary to our discussion room at MPTrader:The Dollar and the PM Miners-- I can make a compelling technical argument that this weeks major downside reversal in the US Dollar Index (DXY) from a multi-decade high at 114.78 to todays low at 111.
Last Monday (Oct 31), Mike Paulenoff posted the following analysis of F (Ford) for our MPTrader members:F (Ford) arguably has been in a bear-correction phase for all of 2022. However, one look at my attached 4-Hour Chart certainly makes me wonder if the May-October portion of 2022 represents a budding accumulation period and pattern ahead of a potentially powerful upside breakout heading into 2023.I dont have the answer yet, BUT my rally pattern setup off of BOTH the May 17 and the Oct.
Back on August 29, Mike Paulenoff alerted MPTrader members to his excitement about the potential for a powerful advance in Gilead Sciences (GILD), writing:
For two years, GILD has been traversing a wide (24%) range between 57-59 on the low side and 70-72 on the high side (see my attached Daily Chart). Every time GILD sinks into the vicinity of 60, it becomes relatively cheap within the range (57 stop) ahead of a traverse towards 70-72...
