WhereverTV Broadcasting Corp. TVTV
For those of you who may have missed our post-market report on TVTV last night, we urge you to read it over now. We are extremely interested in the concept behind WhereverTV’s business plan, which proposes to bring live TV service broadcasting to users via any internet-capable device, for a fraction of the cost of cable or satellite providers. The Company’s platform broadcasts to TV’s, blu-ray players, set top boxes, PCs, laptops, tablets and smartphones, and manages broadcast rights across devices and geographies and provides individual customer viewing experiences based on customer location.
Yesterday’s report focused mainly on what the company does. This morning, as promised, we are shifting gears a bit to discuss some of the more attractive aspects of the chart.
On February 27th, this stock hit its 52-week low of .15, and went on to hit a high of .43 four trading sessions later. Since that rebound off the annual low, TVTV has been holding support at .30, and .33. The stock has since been testing its 20DMA of .38, which is the level we are hoping to see broken, and would confirm a breakout pattern. The next level to challenge beyond that is the 50DMA of .62.
As you can see in the following screenshot of the Level 2, the offers appear thin, and there are very few market makers on the ask, which means any small amount of buying pressure could send the stock on a significant run. There also seem to be no toxic market makers anywhere near the ask. VFIN, VNDM and VERT are three that are notorious for being toxic, we will want to continue to observe the Level 2 to see if they stay away from the offer.
We have also taken it upon ourselves to create a quick video presentation of the TVTV Chart for your viewing convenience.
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