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Greenlane Renewables Inc T.GRN

Alternate Symbol(s):  GRNWF

Greenlane Renewables Inc. is a Canada-based company, which provides biogas upgrading systems. Its systems produce clean, renewable natural gas from organic-waste sources including landfills, wastewater treatment plants, dairy farms, and food waste, suitable for either injection into the natural gas grid or for direct use as commercial vehicle fuel. The biogas upgrading systems, marketed and sold by the Company under the Greenlane Renewables brand, remove impurities and separate carbon dioxide from bio methane in the raw biogas created from the anaerobic decomposition of organic waste at landfills, wastewater treatment plants, farms, food waste streams, and other feedstock sources. It is engaged in deploying the three main upgrading technologies: water wash, pressure swing adsorption, and membrane separation, plus proprietary biogas desulfurization technology. It has delivered over 145 biogas upgrading systems into 19 countries and over 160 biogas desulfurization units.


TSX:GRN - Post by User

Bullboard Posts
Post by mulinekon Feb 02, 2020 11:09am
302 Views
Post# 30630709

Reading Charts

Reading ChartsIs  the uptrend still in progress. Or we might have some price correction ? General market experienced quite a selloff and Greenline was affected as well. This is strange since  company’s Beta=2.36 (believing stockhouse data) and price should be rising when market goes down.
Let’s look at first at global market picture

User image

If $Namo Oscillator line crosses bellow Lower Bollinger Band you have 90% chances to have a bounce on the next day. Sometimes you have to wait extra day. This bounce is for short term trade and has nothing to do with “Reversals” , but It can and should affect Greenline price  on Monday/Tuesday. So don’t be fooled by one day price movement unless you are short term trader.
Daily Chart

User image

The Good:  Well, we are still trending on 9 days EMA and KAMA, but not really above. Price stopped at Pivot Point at 0.50 ….
The Bad: but….. we violated Up-Trending Channel. Not much so the judgment is still pending. Price Divergence played out nicely. RRS/CCI/Stochastics are all pointing and moving lower. Momentum slowly evaporates. We are at Pivot Point
Support at 0.44/0.39 and Resistance 0.62
Sometimes is better to waitand buy at higher prices than trying to catch a falling knife

Happy Trading


Bullboard Posts