What might the future hold for Nanosynth shares?
1st September 2021 08:17
by Alistair Strang from Trends and Targets
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This small company has big ambitions. Here's what independent technical analyst Alistair Strang thinks of share price prospects.
A bunch of emails about Nanosynth Group (LSE:NNN) provoked inevitable jokes, wondering if they were a bunch of tiny techno music people from the 1990’s. However, disappointingly, it appears their forte is the synthesis and real world application of nanoparticles.
Previously known as Remote Monitored Systems, their share price has been pretty insipid this year, but recent days are showing a change in fortunes, hopefully with longer-term potentials, following news of the company securing a massive contract from India for supply of masks which apparently feature their technology.
The most recent eight trading sessions have seen Nanosynth move from 0.57p to an impressive 1.37p, and we wonder if the rising cycle is complete.
There’s actually a compelling argument which would normally expect some volatility at the 1.37p level but, should the share price manage higher, a visit to an utterly tame 1.50p looks possible.
Our inclination is to regard 1.50p as a stronger trigger level for the longer term. Moves above 1.50p should make an attempt toward 1.97p in the future. Above this level, things start to get interesting, thanks to a calculation pointing at 4.25p as providing a distant ambition.
Nanosynth’s share price would need to shrink below 0.8p to provoke concern for the longer term, according to our software.
Source: Trends and Targets. Past performance is not a guide to future performance.
Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
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