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TICKERS: BLGO

Tech Co. 然ight at the Point of Breakout'
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BioLargo Inc. seemed to be very close to breaking out of its tight trading range on July 20, 2022, after remaining in the same place for a month. Expert Clive Maund goes over this update and his assessment of the company after this news.

BioLargo Inc. (BLGO:OTCQB) was the subject of an email alert this morning because it is very close to breaking out of the very tight trading range it has been stuck in for the past month, as we can see on its latest six-month below…

This tight trading range is part of the somewhat larger trading range that has formed from the mid-May low which is thought to mark the end of the downtrend in force from last February.

A big reason that this trading range is expected to lead to a breakout to the upside soon is the persistently strong Accumulation line which has been rising steadily since early May—even before the price hit bottom, and as we can see, with the price now close to the upper boundary of the downtrend, it won’t take much of a move to break it out of this downtrend.

The improving momentum (MACD) which is now approaching the zero line, is increasing the probability of an upside breakout soon.

The resistance levels shown, which arise from past trading, are far from formidable but are worth noting.

The 10-year chart is most useful as it puts all recent actions in perspective. On this chart, we see that, although the recent downtrend resulted in a significant loss in percentage terms, it was “a storm in a teacup” relative to the bigger picture, which is of a giant base pattern that started to form from the 2019 low that is now approaching completion.

The very strong Accumulation line from the middle of last year is most auspicious and promises that the pattern will resolve with a new bull market developing in the stock.

It is sometimes puzzling how a persistently strong Accumulation line can take a long time to translate into positive price action, and when this occurs it is usually for capital markets reasons that come to light later, but in any event, this certainly looks like a good entry point for BioLargo for all timeframes.

In conclusion, BioLargo is rated an Immediate Strong Speculative Buy for all timeframes. The company is a “green tech” company, which is certainly the right area to be in at this time.

At the time of completing this update, BioLargo is right at the point of breakout.

BioLargo Inc website

BioLargo Inc. traded at $0.265 at 2.00 pm EDT on July 20, 2022.


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CliveMaund.com Disclosures

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.

Disclosures
1) Clive Maund: I, or members of my immediate household or family, own securities 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.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. 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: None. Please click here for more information.

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. 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.

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