We have looked at Awakn Life Sciences Corp. (AWKN:NEO; AWKNF:OTCQB) on a couple of occasions since mid-July.
The purpose of this update is to point out that the technical picture for the stock continues to strengthen with the persistent strong upside volume since the middle of August, which has driven the Accumulation line higher.
This points to an upside breakout soon, both from the downtrend shown on the 15-month chart below and from the fine Double Bottom pattern that has built out.
The 6-month chart shown below enables us to see recent action more easily.
Note that due to some technical glitch, the 200-day moving average, currently at about CA$1.56, does not appear on this chart.
This is now a really compelling technical setup, so this is a stock that is thought to be worth going overweight on, and it is a good candidate to switch into from stocks that are not doing so well.
U.S. subscribers will be pleased to note that it trades in good volumes on the US OTC market.
Awakn Life Sciences Corp.'s website.
Awakn Life Sciences Corp. closed at CA$0.58, $0.442 on September 2, 2022.
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CliveMaund.com Disclosures
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.
Disclosures
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. Click here for important disclosures about sponsor fees.
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.
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