Hi Guys,
Yes, we nicely traded past the recent resistance level of $.67 USD
and confirmed with volume and price on a weekly basis.
And now that is the new support is now $.67.
As to the next trading range.
I refer you to my recent post.
NGW current sales is moving into a range of $20,000,000 per year.
The price to sales in the Cannabis space keep on moving up with
the last 2 weeks even higher.
For me it is conservative to use a price to sales of 10 X.
This gives NGW a market cap of $200,000,000.
So market cap/share out = projected price level
$200,000,000/170,000,000 = $1.18
For me this is the next resistance level.
Also more information for this projection will be available in
the first week in March 2021. Since by then NGW would have likely
published the Feb. 2021 sales figures.
Buying more as funds become available.
GLTA
