Cloud Nine Web3 Technologies Inc (OTCMKTS:CLGUF) Looking Weak.

Shares of CLGUF have sold off over the last seven session. What is in store for the stock?

Market Action

CLGUF was down 11.84% closing at $1.08 on a volume of 592,718 shares Wednesday. Volume was heavy, twice it’s 30 day average.  The stock traded in the range of $1.000 to $1.2500. While it has hit a 52-week high low of $0.0101 and $2.3300 respectively.

CLGUF Raises Capital

Cloud Nine Closes First Tranche Of Private Placement

  • CLGUF closed the first tranche of its non-brokered private placement of 908,655 units at $1.37 per Unit for gross proceeds of $1,244,857. 
  • CLGUF adds Stan Shin, eBay’s managing director, and Shin-Young Park, WePay Korea’s CEO, as a strategic advisor.
  • CLGUF added blockchain expert, Pavel Bains, CEO and co-founder of Bluzelle Networks Pte. Ltd., as a Strategic Advisor. 

Trader Notes 

AZFL is trading below its 50-Day MA of $1.51, while it is trading above its 200-Day MA of $0.55. The RSI of 32.22 looks oversold. The stock has gained 1,442.86% over the past six months and has given investors a return of 1,700% over past one year. CLGUF looks weak here, and if it breaks past this 1.00 area, it could get ugly. 

Related Posts

About The Author