Namaste Technologies Inc (OTCMKTS:NXTTF): Supply Agreements and Findify AB Acquisition Key To Possible Bounce – Insider Financial

By Posted on June 14, 2018

Namaste Technologies Inc (OTCMKTS:NXTTF) is still a cannabis runner even on its poor run of form in recent months. Just like other companies in the sector, the stock has come under pressure and in the process shed nearly 60% in market value. However, the bear run cannot in any way be attributed to deteriorating performance.

The market leader in the legal marijuana sector has signed a number of supply agreements whose impact can only be felt going forward. That said, the stock should bounce back on sentiments improving in the broader cannabis industry, after recent sell-off.

NXTTF Daily Chart

The stock is currently trading at the $1.23 handle and needs to rise and stabilize above the $1.50 handle, to affirm the end of the bear run. Above the $1.50 mark, the stock could make a run for the $2.50 handle seen as the next critical resistance level.

Given that the stock is currently trading in a range, it

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