This morning, it is quite likely that investors are going to focus on the Sun Pacific Holding Corp (OTCMKTS:SNPW) considering the fact that the company’s stock had been one of the notable gainers yesterday and ended the day with gains of as much as 14%.
Trading Data
On Tuesday, SNPW stock soared 14% at $0.0213 with more than 30.94 million shares, compared to its average volume of 6.98 million shares. The stock has moved within a range of $0.0162 – 0.0220 after opening trade at $0.0198.
Key Trigger
Yesterday, the company had come into focus after it made an announcement with regards to a new agreement that it had inked with FoxESS Co Ltd. As per the terms of the new agreement, Sun Pacific Holding will be the authorised distributor for the energy storage products manufactured by FoxESS in the lucrative markets of Australia, North America and South America.
It goes without saying that it was a significant breakthrough for Sun Pacific and the reaction of investors was understandable. As per the provisions of the new agreement, it will now be possible for Sun Pacific to provide its fast growing customer base with the most advanced variants of energy management products. These products are well known for not only enhancing efficiency significantly but also in saving costs. Investors could consider adding the stock to their watch lists at this point in time and keep an eye on the developments going forward.
Key Quote
Nicholas Campanella, CEO of Sun Pacific Holding Corp. said, “We are most fortunate to have teamed up with global energy innovator FoxESS and also to have secured distribution rights for their unmatched energy storage solutions throughout North America, South America and also Australia. Since Sun Pacific is already developing major clean energy projects in these regions of the world, our new partnership with FoxESS will further enhance the high value we can offer and deliver to our customers in vital energy management and optimization for today and well into the future.”
Technical Data
SNPW stock is trading in the neutral zone as RSI stands at 60. The stock has pivot supports at 0.0119, 0.0140, 0.0177 and resistances at 0.0235, 0.0256, 0.0293. The stock is up 55% in the past month.
