Shell company positioning well

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Looking at $ASX:UUV tonight after some large volumes over the past week.

  • In terms of context, the company wrapped up all previous business in the US last November 2020. Winton Willesee was appointed Chairman in October 2020 to push this through. For those unfamiliar, he has a history of leading RTOs (xTV to NZS) and growing small-cap companies such as CPH and NC6.
  • Seemingly off the back of this hype, UUV has been pushing through some impressive volumes of late.
  • The 50 day EMA has crossed the 100 day EMA and is heading toward the 200 day EMA. We could even have a golden cross if the splurge contains and the 100 day EMA follows the 50.
  • Volume profile (since November 2020) suggests that support exists at $0.003 and with the buying frenzy this is unlikely to drop below $0.002/$0.003.
  • Finally, the MACD shows a positive trend, which after a slight dip was reconfirmed after today's trading.
  • In terms of the future, it is extremely uncertain and will hinge on how UUV reposition. There have been links to AR9 and the cyber security sector, and any further tidbits of information coupled with the low share/options price will likely spur short-term growth.

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