GMG.v is oversold, updates on new warehouse. Graphene Manufacturing Group (TSXV: GMG) shares are continuing to trade through a long-range descending triangle pattern with consolidation towards $2.65. Overselling seen on the RSI indicates SP should rebound here to return to a retest of the upper trend line.
GMG recently announced its plans to expand its manufacturing facility, bringing its total warehouse space to 3,500 metres.
The new space will include the next generation of the company’s proprietary graphene production technology with enhanced automation, a micro-grid with energy storage component to improve commercial and environmental electricity supply for the production process, and an infrastructure corridor to allow rapid scaling of further graphene manufacturing capacity during future phases of the graphene manufacturing expansion project.
GMG.v is currently trading at $3.1, valued at $244.7 million.
https://ceo.ca/@newsfile/gmg-announces-phase-1-expansion-project-to-graphene