originally published Monday, June 29, 2020

Tech Stocks Tech Stocks

We have been showing a loss on Loop Insights which has reacted back further than we expected, apparently due to a big seller driving it lower. However the good news is that he is believed to have been flushed out, and the appearance of a large bull hammer on the chart on Friday accompanied by a volume breakout certainly is a strong indication that this is the case. This candle is a sign that the bottom is in and that the stock should now proceed to break out of the short-term chart shown on our 3-month chart and advance.

The fundamentals for the company continue to be favorable. We therefore stay long and this is a good point for anyone who doesn’t already own the stock to take a position. The stock does trade on the US OTC market where trading volume has been light in the past, but has ramped up a lot over the past 6 weeks or so, and may soon be acceptable. If buying on this market be sure to place a limit order. There are about 60.5 million shares in issue.

Loop Insights Inc, MTRX.V, VRZPF on OTC, closed at C$0.14, $0.097 on 26th June 20.

Posted at 8.50 am EDT on 29th June 20.

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 stockmarket 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.