Sun Pacific Holding Corp. (OTCMKTS:SNPW) shares traded higher Monday on heavy volume.
Market Action
Sun Pacific Holding Corp. (OTCMKTS:SNPW) closed higher Monday endeing the session at .0314 up 6.44% gaining .0019 on the day. Trading was avout three times the average at 26.5 million shares. The stock opened at .00295 and ranged between .028 and .0397. SNPW was up 34% at the high but could not hold onto its gains.
Filing Highlights
SNPW filed an 8k Monday morning.
Section 8 – Other Events
On May 7, 2021, Banco Bilbao Vizcaya Argentaria, S.A. (“BBVA”) presented the finance partner on the Durango Mexico 50-megawatt photovoltaic facility (the “Project”), with a $40 million dollar commitment letter for a Bank Guarantee/Standby Letter of Credit on behalf of the EPC partner as security for permanent financing on the Project. Although this does not obligate the Company in any way nor does it guarantee that the project will be financed and completed, management believes this to be a positive step in securing the role of National Mechanical Corp. in the Project.
Traders Notes
SNPW traded higher on heavier volume than normal today. Unfortuantly the the stock could not hold its gains. Shares have been trending lower since its Mid Febuary peak of just under .25.
Potential pivot points to watch are .0368, .0441 and .0558 above and .0251, .0207 and .009 below.
SNPW is trading below its 5,10,20,50 and 100 day moving averages.
SNPW has not had two winning days in a row since early March. If things don’t turn around here soon the next stop for SNPW is .0153 the April low.
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