We last looked at NexTech AR Solutions Corp. (NTAR:CSE; NEXCF:OTCQB) at the end of October, when it had just spiked up to about C$1.65 and opined that it was worth staying long and buying on dips, if any.
There was no chart in that last update because I was travelling, and the purpose of this update is to present the latest chart and also to point out that another small bull Pennant appears to be completing within an exceptionally dynamic Stage 2 uptrend. Thus, although the stock is obviously overbought here, it nevertheless looks like a buy again because it looks about ready to take off strongly higher very soon with a move that is likely to be similar to the one preceding the Pennant. The rapid appreciation is hardly surprising considering what is going on for the company, as set out in the last update. You will I am sure want to read this report on the company in the Wall Street Reporter entitled "Nextech AR Solutions: Emerging Leader in Augmented Reality," targeting multi-billion dollar market opportunities—and the only "pure play" stock positioned in the $120 billion AR mega-trend. There are was a report put out by Zachs Small-Cap Research on 10th October entitled NEXCF: A Pure Play Augmented Reality Stock, which rather gave a target for the stock at C$1.24, which rather amusingly has almost been reached in only a month.
So we stay long and fresh purchases are in order with a stop set below the lower boundary of the Pennant. It has dipped 2 cents this morning on light volume at the time of writing, making it more attractive.
NexTech AR Solutions website.
NexTech AR Solutions Corp, NTAR. CSX, NEXCF on OTC, trading at C$1.46, $0.523 at 10.14 am EST on 11th November 2019.
Originally posted on CliveMaund.com at 11.40 am EST on 11th November 2019.
Clive Maund has been president of www.clivemaund.com, a successful resource sector website, since its inception in 2003. He has 30 years' experience in technical analysis and has worked for banks, commodity brokers and stockbrokers in the City of London. He holds a Diploma in Technical Analysis from the UK Society of Technical Analysts.
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The above represents the opinion and analysis of Mr Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.
