Good Morning!
The more I look at LegacyXChange Inc. (LEGX), the more innovative its core business looks. Applying DNA to sports collectibles is GENIUS.
Usually you only catch those ideas in hindsight, but we have the chance to ride the LEGX wave at a VERY early start-up stage!
LEGX came up with a system of DNA validation. It’s like a home paternity test, the ultimate way to make sure you are who you say you are. (VIDEO)
They could have gone the “ancestry” route or electronic signature, but instead they decided to grab the gusto and monetize FAST.
LEGX got the game rolling with celebrity autographs. The star signs with a DNA pen and questions of forgery get settled right away!
More on that in a minute, but first let’s let you scan that chart:
Remember, LEGX is little down here at $1 million in market cap and the float is on the narrow side. That makes the action FAST!
But traders expect that from these ground floor play. Meanwhile LEGX
opens up a $5 BILLION market, store by store, scoring big relationships.
And that’s all just Phase One. I haven’t even plumbed the legal markets, the document control markets, deep-pocket applications.
Heck, LEGX is still so new that the last press release I saw promised us a new corporate website on the horizon!
Either way, the combo of accelerated revenue prospects and the natural start-up “exuberance” can turn into 3 digits on the drop of a penny.
Obviously a breakout surge like that is sweeter (and statistically more feasible) after a big dip to set the scene, so our timing is on target.
Once again, that MACD is intriguing. We seem to be right on the edge of confirming the last few weeks of upward motion. A cross would be NICE.
After all, any move above zero reflects bull momentum, right? If so, LEGX may be set up for a repeat of the first or third big moves I circled up there.
The 200-day line is up a deceptively long way at $0.03. Should LEGX find the strength today to revert to that statistical mean, it’s in the green.
I admit it would be nice to see a catalyst that gives LEGX more direction than a random walk. That last surge was on the back of NEWS, after all!
Sincerely,
Michael Reef
yourstockguy@gmail.com
