September 14, 2022 (Investorideas.com Newswire) Expert Clive Maund reviews the 6-month and 15-month charts for Awakn Life Sciences Corp. to explain why he thinks this company’s technical setup is exceptionally positive.
You may recall me banging on about Algernon Pharmaceuticals Inc. (AGN:CSE; AGNPF:OTCQB; AGN0:XFRA) for weeks. There was a reason for that as it went on to double from we bought it in July, and there is a reason for banging on about Awakn Life Sciences Corp. (AWKN:NEO; AWKNF:OTCQB) now, that reason being that its technical setup is exceptionally positive and keeps getting better.
On its latest 6-month chart, we can see that is in the process of completing the second low of a Double Bottom and also that the volume pattern is strongly positive with persistent heavy buying since mid-August that has driven volume indicators strongly higher – Accum – Distrib is shown on this chart and On-balance Volume on the 15-month chart further down the page.
This is a sign of determined accumulation by buyers who “know something,” and we don’t have to know what they know, simply follow their footprints.
The flattening out of the 50-day moving average and the appearance of a bullish “dragonfly Doji” candlestick on the chart on Thursday suggest that the time is ripe for it to break higher, so there may be some positive news out shortly.
The 15-month chart shows the entire history of the stock, and on it, we can see that not only is Awakn completing the second low of a Double Bottom, but it is on the point of breaking out of the severe downtrend in force from January.
On this chart, which is arithmetic, the On-balance Volume line has been added at the top, and as we can see, it is strong and already making new highs despite the continuing very low stock price.
This is a very positive divergence indeed, which implies that we will see an upside breakout soon.
Awakn is therefore considered to be an even stronger Buy than when we last looked at it, and this is one that it is considered to be worth going overweight on, and U.S. subscribers may be heartened to know that it has acceptable liquidity on the US OTC market.
Awakn is thought to be a good destination for any funds liberated from our profit take in BioLargo in the late trade on Friday, where we made a quick 40% gain in less than two weeks.
Even if it turns out that we sold BioLargo Inc. (BLGO:OTCQB) too soon, it doesn’t matter as we got out with a good quick profit at a time when risk was rapidly increasing.
Awakn Life Sciences Corp.’s website.
Awakn Life Sciences Corp. closed at CA$0.57, $0.42 on September 9, 2022.
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.
1) Clive Maund: I, or members of my immediate household or family, own securities of the following companies mentioned in this article: None. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Awakn Life Sciences Corp. and Algernon Pharmaceuticals Inc. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Algernon Pharmaceuticals Inc. Please click here for more information.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Awakn Life Sciences Corp. and Algernon Pharmaceuticals Inc., companies mentioned in this article.
6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.
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