6th/7th campaign to break $0.70 support. What will give?Well to-data, we have defended $0.70 CAD extremely well. Almost seems impenetrable at this point. We have tested $0.70 CAD on six (6) or seven (7) days over the course of the last couple of weeks. This support level seems foundational.
However, we continue to fail to break away to the upside from this support level to any significant degree. And loitering around $0.70 CAD is a dangerous place to stay since any macro news or sector/company specific news could swing sentiment to the downside with great momentum shattering an otherwise structurally sound support level.
Let's please get a news release out post-haste to distance Nano share price away from $0.70. We need some buffer away from $0.70 to give us some breathing room in case macro sentiment proves negative over the course of the coming trading sessions. Hanging out around $0.70 CAD is extremely dangerous and is asking for serious trouble.
If $0.70 support fails after so many successful campaigns to defend it, investors will take their dry powder and sit on the sidelines waiting for the marketplace and algos to establish the next support level organically before they step back in to defend the new lower support level with their own hard-earned dollars. Nobody knows where that next lower support would materialize but ~$0.55 CAD might make technical sense.
We need the company to get us a news release to get us off this land mine at $0.70 CAD.