Following NIA's CurrencyWorks (TSXV: CWRK) updates on Tuesday afternoon at $2.09 per share, CWRK rallied into the close to finish at its high of day of $2.25 per share. Back on February 17th when CWRK hit its all-time high of $2.82 per share and then closed at $2.22 per share, CWRK had a 14-day relative strength index of 88.71, an indicator that CWRK was extremely overbought. Today, CWRK closed above its February 17th closing price yet CWRK's 14-day RSI is only 65.14!
From CWRK's February 17th all-time high of $2.82 per share, CWRK dipped by 63.83% to a March 5th low of $1.02 per share. After bottoming on March 5th at $1.02 per share, CWRK immediately bounced by 31.37% to finish March 5th at a closing price of $1.34 per share! Very importantly, CWRK closed March 5th ABOVE its then 50-day moving average of $1.13 per share! By CWRK bouncing big from its 50-day moving average the stock remains in a major uptrend!
CWRK only has 47.07 million shares outstanding, which means at today's closing price of $2.25 per share it has a market cap of only CAD$105.9 million or USD$83.78 million! CWRK is a much better bet than any Bitcoin mining stock, because CWRK doesn't need the price of Bitcoin to rise for its share price to appreciate! CWRK's non-fungible token (NFT) based digital collectible platform is the most promising blockchain technology of any publicly traded company we follow!
This evening, we have seen three separate news stories in the mainstream media about non-fungible token (NFT) technology! CWRK is the company that developed the NFT platform used last year by Topps to facilitate and process a sellout of limited edition, NFT digital collectibles for Garbage Pail Kids branded digital trading cards!
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA has not been compensated by CWRK but the Chairman of CWRK is also the Chairman of DFLY and NIA has received compensation from DFLY of USD$30,000 cash for a six-month marketing contract. This message is meant for informational and educational purposes only and does not provide investment advice.