NGT Clarity Networks Inc (OTCMKTS:NYWKF) Stock Consolidates After The Recent Move

NGT Clarity Networks Inc (OTCMKTS:NYWKF) is a technology company which provides a range of services to its clients and yesterday, the company was in the news as well. However, at the same time, it should be noted that the news did not lead to any move in the NGT Clarity Networks stock, which traded within a range on Thursday.

Market Action

On Thursday, NYWKF stock ended flat at $0.0345 with 3K shares, compared to its average volume of 3.3K shares. The stock has moved within a range of $0.0345 – 0.0345 after opening trade at $0.0345.

NTG Clarity Signs a Framework Agreement for Manpower Services

In this situation, it may be a good idea for investors to possibly take a look at the news and then make up their minds about the stock. Yesterday, the company announced that it had signed a new Framework Agreement for a duration of a year.

By way of this agreement, NGT Clarity Networks is going to be responsible for providing information technology consultation services to a credit bureau that is based out of the Middle East. The company noted that the purchase orders are going to be start coming in from January 2022.

Despite the fact that there was no major move in the stock after the news, it cannot be denied that an agreement of that nature is an important development for NGT Clarity Networks. It now remains to be seen if the stock can manage to have an upward move any time soon.

Key Quote

“This one-year renewable agreement shows that our new customer in the Middle East is serious about building a long-term relationship with NTG, and confirms the trust that customers have in our products and services. The sale of our services contributes significantly to our bottom line due to its high profit margin. Also noteworthy is that this is another client in the financial sector, showing that NTG is gaining a foothold in this industry,” said Kristine Lewis, NTG Clarity’s President.

Traders Note

NYWKF stock is trading above the 10-Day and 20-Day Moving averages of $0.0322 and $0.0328. Moreover, the stock is trading is the neutral zone with RSI stands at 47.

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