Net Savings Link Inc (OTCMKTS:NSAV) Stock Comes Back Strongly: But Why?

Cryptocurrency, digital assets and blockchain technology firm Net Savings Link Inc (OTCMKTS:NSAV) has seen its stock get significant traction over the course of the past week. Yesterday, the stock continued to be in favour among investors and as a consequence, ended the day with gains of as much as 12%.

Market Action

On Monday, NSAV stock jumped 12.32% to $0.0310 with 29.93 million shares, compared to its average volume of 38.69 million shares. The stock has moved within a range of $0.0290 – 0.0324 after opening trade at $0.0291.

To Acquire Minority Stake In Technicorum Holdings

That took the gains made by the stock to a handsome 30% for the past week. As it happens, the company was actually in the news yesterday after it announced that it had been successful in picking up a minority stake in Technicorum Holdings, a Singapore based investment and compliance firm.

It is an important investment for Net Savings Link considering the fact that Technicorum is fast moving into the blockchain space in a big way as well. The blockchain industry is now worth as much as $163 billion and hence, the investment could prove to be a significant one for Net Savings Link in the long run.

It seems that the investors are also highly excited about the development and it will now be interesting to see if the stock can actually sustain its momentum through the week. Net Savings is going to pick up a 5% stake as per the terms of the agreement.

Key Quote

Dato’ Sri Desmond Lim, Interim CEO and Senior Vice President of Cryptocurrency Operations for NSAV and Silverbear Capital partner stated, “This marks another milestone for NSAV and I think this is a very strong relationship and will benefit both companies to excel together into the blockchain world.”

Traders Note

NSAV stock is trading above the 20-Day and 200-Day Moving averages of $0.0269 and $0.0288. Moreover, the stock is trading is the oversold zone with RSI stands at 55. The stock is up 9% over the past month.

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