Hi guys
Noticed there wasn't a chart thread for NC6 so thought Id get one going.
The tide appears to have turned on the weekly after tagging the oblique support line a few weeks ago, weekly MACD has reset nicely and buying for the last 10 days has broken the short term down trend, watching the PA the last few days supply has really thinned out now, with material news flow expected in the final 2 months of CY2021 this looks good for a move upwards...breaking the 11 cents level will be key,
There's a pilot plant trial happening currently and Commercial Pilot spin happening in the coming weeks plus offtake negotiations and product sampling happening with multi national fashion brands, NC6 have what could be the solution to the textiles industry ESG problem, NC6 patented Lyocell fibre is created from microbial cellulose which they use Food waste from the farming and food industry as feedstock for the process. The upside potential seems huge here for a micro cap of $15m, especially when you consider they are partnered in JV with Burla cellulose a branch of Grasim Industries one of the largest textiles manufacturers in the world.
DYOR
Daily
