$BTBD Merger Play in the Works
A few days back I mentioned a merger play based on some unusual price movement and chart analysis. After that, the price jumped from around $1.85 to $2.32 the next day, then dropped a bit before settling into a new base around $1.50, about 30% higher than the $1.30 bottom a few days earlier.
Looking at the 10 Dat, 15Min chart over several days, there are several higher highs and higher lows. I've added a target around $2.05. We had a solid run, but the merger story is still strong. This setup looks more solid and deliberate than before, with a nice, strong upward trend. It looks like another push for a new high is forming, and even if it doesn't make it, it might still reach the $2.30 level.
I need to check the charts again to see what's new, but here's a quick summary of what's going on:
$BTBD is a small cap company turning toward drone tech. They're expecting news about a merger with Aero Velocity, a company offering AI-powered drones. The combined company will focus on AI drones and service drones.
Market cap is between $7M and $9M with a public float just over 3M.
The merger seems fair. The new company will keep the Aero Velocity name, so there could be a ticker change later.
A merger update is expected soon. Other possible catalysts include infrastructure or government contracts and news about expansion plans.
So right now, we have a low float stock that's getting more active in a hot sector, showing a strong upward trend over several days. I think this could be stage 2 of a bigger move, and it seems likely that another push for a new high is underway.
I'll check the charts again soon, but for now, check this out and if you see the setup, keep an eye on it.