A recap to last week's interesting trading actions:
Daily chart
- Looking like a breakout following a long consolidation period in the low 2s, strong support at 2.3c (represented by blue line)
- Opened at 2.9c on Monday (29 Jan) and closed at 3.9c on Friday (2 Feb), intraday high of 4.3c
- Friday also marked the
highest volume day since listed back in Dec 2016 with 31M shares exchanged hands
- Initial run happened on Wednesday (31 Jan) with a gap up on open at 3.5c (previous close 3.2c), which was then filled during the day, before closing at a high of 3.8c
- Candlestick went above upper edge of bollinger band, which led to the minor retracement on Thursday (1 Feb) to close at 3.4c before the eventual big trading day on Friday (indicated by blue arrow)
- If big volume continues we might be looking to retest previous high of 4.9c (reached in Aug 2017) and potentially breaking the 5c barrier
Food for thought
Storedot (Israel based, raised over US$100M)
https://www.store-dot.com/
- develops organic compounds using nanotechnology for use in batteries
- has its own OneGiga state of art facility for development and scaling
- raised US$60M in Aug 2017 at a
valuation of US$500M, with Daimler and Samsung showing interests, participating in the funding round
https://techcrunch.com/2017/09/14/q...ot-gets-60m-on-500m-valuation-led-by-daimler/
Nexeon (UK based, raised over US$100M)
http://www.nexeon.co.uk/
- develops silicon based anodes for Li-ion batteries, using a patented method of structuring silicon that is designed to extend battery life
- raised £30M in the 2016 funding round, backed by VC Touchstone Innovations
Enevate (US based, raised over US$60M)
http://www.enevate.com/
- develops silicon based anodes through its HD-Energy® Technology, delivering significant performance improvement over conventional graphite-dominant Li-ion batteries
- named 3 x CES 2018 Innovation awards honoree
- raised US$30M in 2015 funding round
............ just to name a few of UTR's peers, and the list goes on:
https://www.nanalyze.com/2017/03/new-lithium-battery-technology-startups/
UTR currently valued at $30m, which is significantly cheaper than all of the companies listed above.
With a battery tech solution much like the others targeting a potential trillion dollar market, lets hope it continues this rerate to its fair value.
These are my opinion only and please DYOR
Hez
