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Nano One Materials Corp. set to double

Nano One Materials Corp. #NNO (TSX-V) is “a Canadian technology company with a scalable industrial process for producing low cost high performance battery materials and a wide range of other advanced nanostructured composites”, in particular with battery materials such as Lithium and Cobalt.

The stock appears to have built a long term bottoming base and realized a bullish break-out with a massive volume increase beginning of 2016 and every minute consolidation phase has been accompanied with cumulative trading volumes. Bullish momentum indicates higher prices to come and certainly the stock price will move higher into the next major price supply zone and historical price peak around ca. 2 CAD/share in the medium term (which may not be the end of the story from a longer term perspective).

On the shorter term the price is consolidating inside a contracting triangle and I suspect that a break-out above the red resistance line will initiate the next bullish move.
If on the contrary a break-down occurs below the blue support line it would represent a golden opportunity to buy against the lower Bollinger band.

Disclosure: I have been buying $NNO at 0.385, 0.55, 0.56, 0.65 in 2016 and added recently one third to my position at 1.05 and may add more to it depending on the price action, with no other strategy than holding for the long term.

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