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Technical Analyst: Quarantine Tracking System a Hit in the Age of Corona
Contributed Opinion

Source:

Technical analyst Clive Maund discusses Blockchain Holdings' acquisition of the TRACEsafe system.

If we are going to buy any stocks at a time like this it should be in those companies that are set to make money out of the coronavirus crisis—and Blockchain Holdings Ltd. (BCX:CSE) is. The reason is, despite the name (which is set to change), that the company is taking over Tracesafe, which is a self-quarantine monitoring technology suite known as IMSafe from WiSilica Inc. Tracesafe is a global health monitoring product that may be deployed by governments and corporations as they fight the global COVID-19 pandemic. Details may be read in Blockchain Holdings to acquire Tracesafe system. In addition the company is understood to be doing a significant financing, which it is understood is already oversubscribed.

We bought Blockchain Holdings on 13th February and then got stuck with it when it got halted a few days later. Ordinarily we would expect it to open down when it starts trading today, in reaction to the market carnage of recent weeks, but not given the field into which the company is gravitating.


Amongst the positive news associated with the company we have this…

"Already, Tracesafe disposable bracelets are being deployed and in active use by the Hong Kong government to manage and enforce their quarantine program for foreign visitors with initial deliveries completed."

So it looks like the stock could gap up when it starts trading this morning. We therefore stay long and it is rated a buy with a close stop if it does as expected and opens up.

Blockchain Holdings website.

Blockchain Holdings Ltd, to be renamed Tracesafe Inc., BCX.CSE, closed at C$0.305 on 14th February 20.

Originally posted at 9.25 am EDT on 23rd March 2020.

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.

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Disclosure:
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 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 Blockchain Holdings. Please click here for more information. Within the last six months, an affiliate of Streetwise Reports has disseminated information about the private placement of the following companies mentioned in this article: Blockchain Holdings.
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.
4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
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 interview or the decision to write an article until three business days after the publication of the interview or 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 Blockchain Holdings, a company mentioned in this article.

Charts provided by the author.

CliveMaund.com Disclosure:
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.




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