SPYR Inc (OTCMKTS:SPYR): Poised for Growth in 2017

It has been a year, almost to the day, that SPYR Inc. (OTCMKTS:SPYR) formed a new wholly owned subsidiary, SPYR APPS Oy, in Finland for the sole purpose of pursuing a greater market share of the multi-billion dollar mobile game and app industry. Although SPYR Inc formed a similar company in the United States a year prior, the decision to form a subsidiary in Finland was driven mainly by the abundance of talented mobile game developers in the Helsinki area. The strategy has proven to be a sound one. Since the Finland subsidiary was formed, SPYR Inc. has move aggressively to put together a strong world-class team of industry experts, and has made great strides in marketing world-wide its company’s flagship game Pocket Starships. The result has been a strong uptrend in the stock price that commenced shortly after the formation of SPYR APPS Oy.Most recently SPYR Inc has entered into an agreement with Facebook where by the Pocket Starships game became part of the initial group of games available for download on Facebook’s new Gameroom Platform. What this translates to is the exposure of Pocket Starships to Facebook’s 1.8 billion users worldwide. As Facebook devotes effort and resources to grow and develop its new Gameroom Platform, Pocket Starships should grow with it. Additionally, Pocket Starships is one of the only true cross-platform, real-time games of its kind available on the market. Consequently, gamers can access the game from various platform or devices to include Android, Apple iOS, Windows, Macs, Kindles, and Amazon.As SPYR Inc. has developed the infrastructure for the Pocket Starships game, it has put itself in an ideal position to take advantage of the expanding eSports industry. eSports is a form of professional competitive video gaming. The industry, which is considered to be in its infancy, generated an estimated $892.8 million worldwide in revenues for 2016. It continues to gain traction very quickly with hardcore gamers and advertisers, and is expected to exceed $1.2 billion in revenues by 2019. The true cross-platform, real-time nature of the Pocket Starships game makes it very suitable for adapting to the eSports application. SPYR Inc. expects to debut Pocket Starships in eSports sometime in 2017.

An analysis of price action in the above chart indicates that SPYR’s stock price has made substantial gains over the past year. The 52-week range is $.12 to $1.03. As illustrated in the price chart above, a very noticeable uptrend can be seen in the upward trending channel lines. In the course of the uptrend, there have been four significant price spikes ranging in percentage movements from 197% to 383%, all with strong volume. These price spikes form the top of the channel. Each price spike was followed by a subsequent drastic retrace, but each retrace made a higher low from the prior retrace. None of the price drops are sustained, and they all indicate lower volume. This is indicative of price drops resulting from profit-taking. Yet there still exist enough demand to continue to make higher lows on each downswing. The forth price spike broke through the upper side of the channel, and set an all-time high at $1.06, and again, was followed by a significant retrace which leaves the price close to the lower end of the trend channel where price again finds support.A quick review of today’s SPYR market depth on a Level II montage indicates that there is a high level of demand at $.65 to $.67. This is right about the level of the lower side of the trend channel where the stock price is hovering now. If we take into account the technical analysis of the price chart for SPYR, the strong buy indication on the Level II montage, and the string of recent favorable press releases and announcements, we could conclude that at this moment, SPYR stock presents a good buying opportunity.We will be updating our subscribers as soon as we know more. For the latest updates on SPYR, sign up below!Disclosure: We have no position in SPYR and have not been compensated for this article.