An upstart Canadian clean energy technology company (focused on lithium-ion battery technology for electric vehicles) that we highlighted earlier in the month, Nano One (NNO.V), is beginning a high volume chart breakout:
NNO has completed a 12-month basing pattern and with yesterday’s huge volume surge the stock is on the verge of breaking out and filling the open gap from March 2015 up at .50. NNO has been exhibiting signs of accumulation (high volume up days) for several months and Thursday’s trading only serves to confirm that investors have become more motivated in their accumulation of NNO shares.
The rising 50-day moving average (near .32 now) is a key downside reference point with a breakout above .40 targeting .60. Despite its relatively thin historical trading volumes and small market capitalization (~C$25 million) NNO shares have exhibited extremely healthy and constructive behavior since its initial surge higher in November.
The article is for informational purposes only and is neither a solicitation for the purchase of securities nor an offer of securities. Readers of the article are expressly cautioned to seek the advice of a registered investment advisor and other professional advisors, as applicable, regarding the appropriateness of investing in any securities or any investment strategies, including those discussed above. NNO is a high-risk venture stock and not suitable for most investors. Do your own due diligence and consult a licensed investment advisor prior to making investment decisions. Consult Nano One Materials Corp. SEDAR profile for important risk disclosures.
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