We're about halfway there, guys i'll just give you a quick update in case you were wondering about how i'm doing i just checked into a hotel in kansas city kansas. I think that's where kansas city is but uh, i'm about halfway to oklahoma, i'll, be staying at fort sill. That's going to be uh training in right now and i'm very excited for the journey, but we got to get into the meat potatoes of the market. Today.

I've got a lot of videos to knock out, so, let's get into it. What is up? Everybody welcome to trace trades. We have technical analysis and different stocks in the stock market, as well as potential buy, hold or sell opinions on these. Given stocks, i, like the preface price, saying i'm not a financial advisor nor expert, so take what i say with a grain of salt.

The reason that i started this channel is a couple years back. I was about thirty thousand dollars to eat and some medical debt, and i was very fortunate to have some close family friends and mentors that push me to work hard and invest my money and i'm happy to say that. Not only am i not financially free, but i'm doing pretty well for myself at the age of 23. So if i can pass along any of the information resources or tools that are given to me here the community and make a couple people better off than they were before, that's all that i can ask for last.

If you would not mind drop a like on the video, it really does help support the channel and consider subscribing if you'd like to see more content like this. Now today we are going to be giving a update on ticker symbol, biol biolase incorporated to me. This is going to be the next grand slam in the making and today was uh an interesting day, to say the least uh we had some pretty wacky price action, and you know i did bring to your guys's attention in my video this morning that uh we Are expecting uh this this stockholders meeting for them to discuss uh an rns, a reverse split, and they did in fact do so. So i'm going to talk about what they went over during that meeting.

I do have this pulled up in the discord which i will show you. Let's talk about the price action on the one month chart i will be transparent and show you guys. I do still have my position in biolase uh kind of a tough day. For me.

I was down about a percent, but i was driving for most of it, so i didn't get to do any of my my day or swing trades and ride some really hot stocks right now, but uh currently have about uh. 7 000 shares at an average cost of 96.8 cents uh down on the day, 350 uh. But overall i am up 507.38 percent and i assume that in the prem or the after hours i should say i will be sitting up a little bit more and i am going to continue to hold my stock into next thursday for the next webinar. As i had planned to do, i do have a pretty nice price target on that.

We'll talk about it later, so we'll look at the one month chart as well as the one day one minute chart to give you both a macroscopic and microscopic perspective on the stock. So we'll start off with that, i have three different indicators pulled up the rsi, which is the relative strength index. Anything over 70's ever bought. Anything under 30 is oversold.

I do have the 200 ema, which is the exponential moving average, and this is just a 200-day price, action-based valuation trend line and then the 15-day vomit, which is the volume adjusted moving average. Some brokerage accounts won't offer this. You may need to use the v-wap or the m8 they're a little bit different, but they're about the same thing, and this is just an average valuation trend line based over a 15-day moving period that adjusts accordingly to the overall volume in a stock. We'll talk about what these mean, give you both bullish and bearish patterns in the stock.

I'll give you an idea of some entry levels if you're looking to get into bio potential exit points. I am presenting this as a swing trade, if you believe in this company for the mid or long term, that is also an opportunity with the stock, but i'm going to continue to present it to you as i presented it prior so uh without you know, with With that being said, let's get into the video, but first i want to give a shout out to the guys over the patreon. We are almost 500 members strong right now, it's absolutely insane. I have a lot of unread messages because i was driving for more.

Most of the day but uh, i really do appreciate your support, guys it's really insane. They will have access to the private discord as well as real-time insights. My personal training we've got a lot of good stuff in here. We've got chatting questions investing assistance, long-term players, midterm plays short-term, plays, spac plays colt stocks, uh the whole nine yards.

So if you're interested, there is a link to the patreon, the description box down below now, if you're, not familiar with what bio lace is i'll. Just read you off a quick description of the company they're, a medical device company which engages in developing manufacturing, marketing and sale of laser systems and dentistry and medicine. It operates through water lace systems and diode systems products. The water light system uses a patented combination of water and laser energy to perform procedures using drills, scalpels to check and other traditional dental instruments for cutting soft and hard tissue.

The diode systems perform soft tissue, pain therapy and cosmetic procedures, including teeth whitening, and as far as the the stockholders meeting goes, i do have - and this is this is very convenient. I really am thankful to you sami for pulling this straight out of uh. Out of the document from the sec, but it says this at the time of the special meeting, there were insufficient votes to pass proposal, one which sought approval to amend the company's restated certificate of incorporation to affect the reverse stock split of the company's common stock and Reduce the authorized shares of common stock at a ratio of 1 for 25, meaning uh, currently the stocks trading at a dollar and 10 cents right and if it was, if it was reverse split to one for 25 you're sure that was worth you know. If you have 100 shares worth uh uh, what's an easier way to do this, if you have 25 shares and each one's worth a dollar ten now you would have one share.

That is worth you know, 27 or whatever. That comes out to. So that's how one for 25 reverse split, would work and people typically don't like this, because it shows a sign of weakness in a company. So it's actually in my eyes a good thing that this did not get approved by stockholders, because i think that's their way of saying hey.

You know, i think, as a company, you already know what you have to do. You already have the potential to be a good company and uh they're going to, i think, that's a good thing. This is a good thing for sure this and i assume anyways. This is why we saw a nice climb here in the after hours up to about a dollar 20 which we'll talk about later and then, after that, it was determined by the company's board of directors in accordance with the authority granted.

Pursuant to the approval of a proposal 2, the special meeting was adjourned to allow additional time for voting with respect to proposal. One. The special meeting will reconvene on february 16. 2021 at 7.

00 am pacific time at the company's corporate headquarters located at 27042 yadda yadda yadda. So this isn't saying that this can't still potentially happen. This is basically saying hey for now. This is not approved, we're going to reconvene and make a decision after that, and i think that people had a very good sentiment towards you know this uh adjourning and the you know decline of the reverse split.

So that is what we saw right here. It took an entire day for it to happen, but uh we did see a nice little jump here. So if you were paying very close attention to the stock, i know there were people in the discord that were able to uh milk. You know cut it right at the the dollar 20 mark when we did touch up here.

I think that was a high at a dollar 23.. I know some people were able to squeeze out a nice little profit there. I did not sell i'm still holding my position as i disclosed and i will be holding until at least next thursday for the next webinar. I think this is going to bring a lot of attention in the pre-market next monday.

I'm very excited for it, but with that being said, let's just take a look at the one-month chart here and see what we have to look at. So if we do take a look here, the majority of the day we were actually in surprisingly oversold territory and i'll show you the the one day one minute chart, but we did a lot of bar coding and barcoding is a way that some traders can uh Scalp, a stock and penny by penny by penny by penny make a crap ton of money and uh. You see this happening with other stocks, like i think zome did this the last two days, uh so i'll. Just pull that up as an example.

Really quick. Take a look at them on the two day. Chart uh change it over to one minute, and this is bar coding to a t that is bar coding, so uh. This is just you know, very, very strong levels of buying and selling at a very, very tight price range, so here we saw it happen between a dollar and a dollar one, basically, the entire day right.

The same thing happened today with bile. I think, for whatever reason or another we had some traders come in here: they're scalping the stock, a little bit able to really milk out some funds uh, and it's actually a really lucrative way to make money. I've never done it, but if you just think about it, if you can sit in a stock like zone, for instance, where all it's doing is barcoding the entire day for like five six seven hours and you can just get into an algorithmic like rhythm with buy Sale buy, sell uh i mean the the limit is, is unlimited, you know it's uh you you can make as much as you want, and we saw a lot of the same thing happen today with bio, not a lot of price action. We did end the day down four and a half percent, but did end up finishing the day at about 1.10 cents as of now.

So that's how we're looking right now i'll go back to the one month chart and let's take a quick look at the retracement here so from the base of this run up to the peak of the last run up. If i just bring this back really quick, you can see that uh, the retracement comes out to about 1.8 cents as well as 99 cents. So i think we have a very strong level of support sitting at 99 cents if it should come to that point with the stock we're currently trading at a dollar ten. You know we do have a pretty nice margin above that uh, but we are using this dollar and eight cent mark right now as a level of support, which is very nice to see, especially considering that we were a little bit red for the majority of the Day today, uh - and i like i - i still have a good feeling about the stock.

I think this is going to be another grand slam hit. They have a lot of really good products that are at niche market and a niche necessity right so being able to decrease the amount of pain that is involved with oral surgery um being able to utilize these laser systems, which i i've never seen in a dental Office, it's it's a lot of potential that biolase has here and um. You know, even though the price action today was very boring. I do anticipate that coming into monday.

We could see some more and then leading into thursday of next week, which is january 28th. We should see even more uh price action. We do have a nice gap here between the 15 bomb and the 200 ema. It did cools down a little bit throughout the day, but if we continue to see this buying pressure in the after hours, i do anticipate that you're going to see a nice little gap here in the in between those two lines, and that is always a bullish Indicator so the more of a gap you have between the 15 volume of the 200 ema, the better off a stock is uh rsi corrected two overbought and in the past, when we've seen overbought territory, the corrections are they're, not too bad, not too bad.

We have one moment here where it dips down to 28, but for the majority of the time it's just a hair below neutral, so this stock typically doesn't correct very harshly, which is a good thing to see, because that decreases the overall risk for your investment and Them not approving the rns guys is really making this a lot, ris less risky of an investment. So if you were holding still into bio lace, my two cents for you is, you can stop sweating. I was i was reading some comments on the discord and uh. It was, i felt bad for some people in there because everyone was freaking out man.

I was, and i don't i get it. I get it. That's an emotional roller coaster to see it be between this tight little price zone of a dollar three and a dollar for the entire day. So you can you can let the weight off your shoulders now, there's a lot less risk involved with bile if you're looking.

If you've got diamond hands - and you held that pat yourself on the back because the pain is over and we have only nothing nothing but green ahead of us, of course, other things could pop up. But as far as things look right now do your own due diligence make your own financial decisions, but i feel comfortable leaving my money here and uh if you feel comfortable leaving your money here. If you think it's going to pop based on what we're seeing on the charts here, which is bullish action, we are stair-stepping every single day we corrected from this this oversold territory, then i i suggest that you continue to keep your money here. You guys are gon na have to drop some whiskey glasses in the comments section for mike crew guy over the uh discord.

He convinced me to stay in the stock and i'm not i'm not mad anymore, oh man. But if you look at this on the two day, one minute chart, we were barcoding the entire day, so there was traders scalping this stock, not a lot of volume up until right before the belt. We did see a little push and then here in the after hours, i'm assuming this is after the r s announcement was pushed out. We did see a nice little bump in unusual trading volume and even still right now the volume is a little bit higher than usual, and one thing that i actually really like to see right now is this bullish flag formation? This is looking like just about picture.

Perfect now keep in mind. This is just on the one day one minute chart, so the relative strength of this is not extremely high, but if we do break above this descending trend line, you could see a pretty nice little push back to the upward direction, and this is uh. This is confirmation of buyers that a stock is not going to absolutely plummet uh. I you know.

If this breaks below the bottom trend line, you might see a bleed, but typically, when you see a bullish flag formation like this, this is a bullish sign. It is a sign that there is strong buying presence, and i do anticipate that to be the case like right now after this huge spike right here, we didn't even correct oversold. We corrected just just below neutral, so i have a really good feeling about bio right. Now we do have a lot of great confirmations here.

We do have an upcoming catalyst, which is a confirmation. I look for the volume in the after hours today did start to pick up not as much as i would have liked to see near the regular market hours, but i do anticipate that yesterday was a webinar right. We did see a nice little pickup in volume. I expect something similar to that by next thursday and i will be continuing to hold this for our next grand slam hit baby.

So that is what i have for the video today guys if you enjoyed it, please drop a like. It really does help support the channel and consider subscribing if you'd like to see more content like this and lastly, i do have an affiliate link in the description box down below for tubebuddy. Now. Tubebuddy is an seo optimization website that i personally pay a nine dollar per month, membership for and is highly what i attribute growing from zero to eleven thousand subscribers in just over a month.

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Thank you for watching my friends and i will see you all next time. Peace.