SenSen Networks Limited (OTCMKTS:SNNSF) Stock Continues to Consolidate

The week did not start off on an eventful note for the SenSen Networks Limited (OTCMKTS:SNNSF) stock as it traded within a range on Monday. However, at the same time, it is perhaps necessary to note that today the company made a key announcement that might bring the stock into focus among investors in a big way once again.

Market Action

On Monday, SNNSF stock ended flat at $0.08 with 87K shares, compared to its average volume of 3.20k shares. The stock has moved within a range of $0.0800 – 0.0800 after opening trade at $0.08.

SenSen Wins Multi-Year Contract with Sunshine Coast Regional Council

The company announced that it had been successful in tying up a deal by way of which it will be responsible for supplying Sunshine Coast Regional Council with automatic parking enforcement products. It was a significant announcement from the company since it is a deal that could have a long term effect on SenSen Networks.

The company is going to start work on supplying the products from January next year. At the beginning, SenSen will work on the installation of one mobile parking enforcement machine and also install the software as well as services which are associated with it. It should be noted that the company is also going to earn revenues annually through the fees that are going to be paid out by the client for the software license. It may be a good time to start tracking the stock a bit more closely.

Traders Note

SNNSF stock is trading below the 10-Day and 20-Day Moving averages of $0.0844 and $0.0906. Moreover, the stock is trading is the neutral zone with RSI stands at 41.

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