Demand Brands (OTCMKTS: DMAN) closed higher on Tuesday. Will it continue?
Market Action
On Tuesday, DMAN gained 16.2% to end the session at $0.0093. Total volume for the session stood at 66.46 million shares – 10Xits average volume of 6.32 million shares. The stock opened at $0.0080 and moved within a narrow range of $0.0080 – 0.0144.
DMAN Issued News
On Tuesday, the company release news. Here are the key snapshots:
Demand Brands (DMAN) Acquires Lucky Chief
- DMAN announced that its wholly-owned subsidiary Pacific Technologies Group, Inc , has entered into an agreement with Viride Research Fund, LLC. (“Viride”), a leading company in the global cannabis industry.
- Under the agreement, DMAN, in exchange for an issuance of DMAN preferred and Common stock, will acquire Viriude and certain assets to be marketed under the brand “Lucky Chief™” http://www.luckychief.com, including Viride’s THC Genetics Library and its interest in an Extraction Lab and Dispensary.
- The acquisition of the synergistic assets is to advance a vertically integrated cannabis-focused consumer packaged business.
Ian Dixon, Chief Executive Officer of Viride, will join the DMAN Board and become its new CEO. Peter Erdekian will remain a Company Director and Lucky Chief™ Executives Trevor Norrbom will come on board as CTO, Marcus Childress as CFO and Andy Rudenstein as COO.
Trader Notes
Share Information
| SHARES OUTSTANDING | 1.01 M |
| SHARE FLOAT (%) | – |
| % HELD BY INSTITUTIONS | – |
Recent Stock Performance
| 5-DAY PERF. | +47.62% |
| 1-MONTH PERF. | +13.41% |
| 3-MONTH PERF. | -27.91% |
| 6-MONTH PERF. | +173.53% |
| YTD PERF. | +200.00% |
| 1-YEAR PERF. | +389.47% |
Moving Averages
| +/- EMA(20) | 0.0076 (+22.37%) |
| +/- SMA(50) | 0.0064 (+45.31%) |
| +/- SMA(200) | 0.0027 (+244.44%) |
Pivot Points
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
| Classic | 0.0003 | 0.0042 | 0.0067 | 0.0106 | 0.0131 | 0.0170 | 0.0195 |
| Fibonacci | 0.0042 | 0.0066 | 0.0081 | 0.0106 | 0.0130 | 0.0145 | 0.0170 |
Technical Indicators
| Symbol | Value | Result | Symbol | Value | Result |
| ADX | 40.5108 | Buy | ATR14 | 0.0018 | |
| CCI20 | 267.7324 | OverBought | Chaikin Money Flow | -0.2498 | Sell |
| MACD | -0.0002 | Sell | Money Flow Index | 88.6537 | OverBought |
| ROC | 12.0482 | Buy | RSI | 61.1461 | Buy |
| STOCH (14,3) | 45.7447 | Neutral | STOCH RSI | 1.0000 | OverBought |
| UO | 48.2122 | Sell | Williams %R | -54.2553 | Neutral |
 Continue its Rally?){kind=link}